Literally, an anagram for "well I'll beat a baby jew to death". A horribly offensive anagram that isn't meant to be taken literally. Commonly used as an exclamation of surprise. This was orginally derived from a racist joke/prank.
Bob: "I just won the lottery."
Mike: "No way. Let me see you ticket."
Bob: "See right here."
Mike: "Well I'll beat a baby jew to death (wibabjtd). You did win the lottery."
This is similar to "Well I'll be a monkey's uncle."
Someone who is addicted to obtaining money and building wealth. A money addict and fanatic. Breadheads often work more than one full-time job, and some even participate in illicit activities to "obtain the bread".
I don't buy the schmegegge about Morty sleeping with Moira.
His version of the story was pure schmegegge.
The whole schmegegge was made up to get Liz a little bit of attention.