The expression sounds typical of those that come from the New York Jewish community but, despite my best efforts, I can’t corroborate that’s where it came from. It certainly is 20th century American in origin.
The first example that I’ve found of it in print is in Judith Guest’s novel Ordinary People, 1976, although this citation is probably a repeating of existing slang:
‘It helps,’ Lazenby drawls, ‘if you read the crap when it’s assigned… Just a friendly hint.’ ‘Tell me about it,’ Van Buren says.
There’s not a good deal else to say about this little phrase. Perhaps an earlier example, and one that points to the origin, may emerge in time.
See other Nautical Phrases.