Comedy Central's Stephen Colbert Thursday applauded Republican presidential candidate Mitt Romney for standing up for the rights of corporations.

"Corporations are people, my friend," Romney told angry fairgoers in Iowa Thursday.

"I have been fighting this good fight for years," Colbert said. "With Romney's historic statement about corporate personhood, he has become this generation's civil rights champion, a Dr. Martin Luther, Inc."

"I want to salute this brave man for his courageous new campaign slogan. I am confident that it is one voters will remember come election time."

Watch this video from Comedy Central's The Colbert Report, broadcast Aug. 11, 2011.