The Neofeudalism reference article from the English Wikipedia on 24-Apr-2004
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The term neofeudalism, like other terms adding the prefix neo- (new) to a descriptive label for an older socioeconomic system ("feudalism") is intended to draw a comparison between the system the speaker is describing and that prior system.

Though not a new term, it has been used in a pejorative sense by leftist critics to describe economic and social policies of the Republicans in the United States. Those who use this term claim that those whom they describe as neofeudalists wish to create a fundamental reordering of society, in the United States of America and around the world, to create a small, elite class of the super-wealthy that is supported by an immense class of the working poor.

Neofeudalists, these critics say, want to use the diminishment of government size as a tool to create an immense functional gap in wealth distribution.