We analyzed the relationship between modern forms of populism and citizen support for exclusive welfare policies and proposals, and we focused on support for left-wing- and right-wing-oriented welfare policies enacted or proposed during the Lega Nord (LN)–Five Star Movement (FSM) government in Italy (2018–2019). In light of the theoretical perspective of political ideology as motivated by social cognition, we examined citizens’ support for the two policies considering adherence to populist attitudes, agreement on the criteria useful to define ingroup membership, and personal values. We also took into account the role of cognitive sophistication in populism avoidance. A total of 785 Italian adults (F = 56.6; mean age = 35.8) completed an online survey in the summer of 2019 based on the following: support for populist policies and proposals, political ideologies and positioning, personal values, and ingroup boundaries. We used correlation and regression analyses. The results highlight the relationships between populism and political conservatism. Populism was related to the vertical and horizontal borders defining the “people”; cognitive sophistication was not a relevant driver. We identified some facilitating factors that could promote adherence to and support for public policies inspired by the values of the right or of the left, without a true ideological connotation.