Yeah. Its incredibly lazy thinking, and a load of bollocks.
If you're rich, the election probably doesn't matter that much. You may pay a few percent more in income tax under the Dems, IF they can cut a deal with congressional Republicans. If you're European, maybe it won't matter either... unless like me you're obsessed by US politics for no real reason.
If you're poor, spending that benefits you is going to be savaged, in order to pay for tax cuts for the rich. If for the first time find yourself covered by health insurance, you could well lose it again if the GOP wins. If you're old you see Medicare voucherised. If you're gay and want equal rights, you'll have to wait till the Dems get back in... probably not even then, if Romney gets to replace a Justice or two - which would have all sorts of unknowable but nasty effects down the line. If you're Iranian you probably have a higher chance of getting bombed by a Republican administration. If you're Muslim you'll be governed by a party that is now fairly openly hostile to you. If you're... well, rational, you see a party governing that is proudly anti-science on evolution and economics and, most importantly, Climate Change. I could go on...
The Dems are a fairly right-leaning and cynical bunch. The gap between rich and poor will keep growing under them, they won't do much to reduce emissions, and they'll probably keep droning Afghanistan and Pakistan, and abusing civil liberties at home. But on all of these things and more they'll be a whole lot less heartless and reckless than the alternative.