The comedian suggested to the The Observer that the media outcry over the material was hypocritical.
Lee said: "The idea of what's acceptable and what's shocking, that's where I investigate.
"I mean, you can't be on Top Gear, where your only argument is that it's all just a joke and anyone who takes offence is an example of political correctness gone mad, and then not accept the counterbalance to that.
"Put simply, if [Jeremy] Clarkson can say the prime minister is a one-eyed Scottish idiot, then I can say that I hope his children go blind."
He claimed that he would still use the material if the Top Gear team turned up to his show and added: "Clarkson is a right-wing libertarian so he'd probably be all right with it.
"I'd happily debate the routine with Hammond and I think he'd get what it's about, that he's being used as a symbol of the sort of debased crassness that passes for controversial humour these days."