Over 120 millionaires are signing a petition against tax cuts for the rich, on the grounds that it would "enrich the heirs of America's millionaires and billionaires, while hurting families who struggle to make ends meet."
Specifically, what they are opposing is Bush's decision to repeal estate taxes, or what Bush refers to as the "Death Tax". You see, repealing estate taxes would allow for useless offspring to "inherit daddy's money" without having to pay any taxes... this, of course, would lead to the growth of a much more entrenched aristocracy in America. Old money would own everything, and it would be that much easier for the aristocracy to keep down the "nouveau riche"... you know... all those people who have actually succeeded in this world through hard work, creating new things, and wisely managing their money.
In other words, Bush's tax plan is anti-American. It's bad for business. It decreases the incentive for innovation and will leave us at the mercy of a bunch of rich elitist snobs...
Frankly, it sounds like an idea that someone would have if, say, they were a business failure all of their life, but had a rich father... who was a pretty poor businessman, but had a rich uncle who bailed him out and a rich father (who made his fortune by financing the Nazis)... who had a rich father... who could trace his family ancestry in America back to 1633.