Macron finds label begins to stick: 'president of the rich'

French President Emmanuel Macron is increasingly being portrayed as the "president of the rich" — an unpopular epithet in a country where bragging about money is taboo and equality is a national motto.

After scrapping a wealth tax and reaching out to big investors, his popularity is flagging, and he made matters worse for himself with a vulgar reference to soon-to-be-jobless workers.

Macron, elected on a pro-business platform, doesn't hide his economic policies aim at attracting more wealthy French and foreign investors into the country.

Last month, Macron formally signed labor reforms that have prompted demonstrations because they are perceived by many as weakening France's hard-won worker protection rights. Thousands of retirees walked on the streets to protest against a tax hike on their pensions