Common meaning:

Imaginary place where everything is perfect.

Hidden meaning of the Equity religion: 

A place we will get to when the West has been destroyed and from the ashes the Equity believers will create heaven on earth.

Discussion:

The Equityists believe that the first step to achieving heaven on earth is to destroy the West. The reason for this is that the civilized West is preventing us from reaching our full humanity. Our progress has stunted our growth and we live under a massive weight of oppression. Those who argue that things are good don’t realize just how far away from perfection we really are.

The Equity adherents never compare the West to where it has been but only compare it to a perfected idea which does not exist. When it falls short, as anything does when you compare it to perfection, the decision is made that the West must be destroyed and then, from the ashes, a new heaven will be created.

I prefer my heaven in Heaven.