While he didn't say the presumptive Republican presidential nominee would steal from the poor to give to the rich, Obama warned against a return to the "old top-down economics that got us into this mess in the first place."
"The entire centerpiece" of Romney's economic plan, the Democratic incumbent said, is a $5 trillion tax cut.
"It's like Robin Hood in reverse -- it's Romney-hood."
Obama stood behind his call for ending George W. Bush-era tax cuts for the wealthiest Americans while at the same time looking for ways to pare federal government spending.
"That's the choice in this election. That's why I'm running for a second term as president," he said.
Later, Obama rubbed elbows with the glitterati such as actress Anne Hathaway, Aaron Sorkin, Anna Wintour, Joanne Woodward and Jerry Springer at the luxurious Westport home of movie producer Harvey Weinstein and his wife, fashion designer Georgina Chapman, that overlooks Long Island Sound.
Weinstein praised Obama, saying, "Leading with your heart is the utmost for this president."
"Fighting for Planned Parenthood and protecting women's rights, this president has fought the good fight," Weinstein said. "Recently in Aurora, we saw him put his arms around the people that needed him the most.
"You can make the case that a he's the Paul Newman of American presidents."
Obama told those on hand, "on a whole host of issues, you guys are the tiebreakers."
"We've spent 3 1/2 years trying to make sure this country gets back on its feet," Obama said. "We have a lot of work to do, and we're not done. These gains are reversible."
2014: The Year in Music [PHOTOS]