It seems to be a pretty common stance taken by democratic political parties across history.
Sounds like populism is just the recognition of oligarchy.
This seems to objectively be the case in the US, right?[1]
[1] http://journals.cambridge.org/download.php?file=%2FPPS%2FPPS...
Populism is a political position which holds that the virtuous citizens are being mistreated by a small circle of elites, who can be overthrown if the people recognize the danger and work together. The elites are depicted as trampling in illegitimate fashion upon the rights, values, and voice of the legitimate people.
The notion itself is quite subjective of course, but it is definitely very different from "democracy".