What does it mean? Is this phrase sometimes used in the media? (this phrase is used in last episode of BBad when Walter threatens his uber-rich ex-partner and his wife and tells them to create an irrevocable fund to transfer 9 mln. USD to Walter's son. As they are uber-rich it is supposedly possible that they could feel 'liberal guilt'.)
I've seen the definition in Urban Dictionary: feeling bad cuz you have more than other people.
Other than that I couldn't find a proper explanation.