I thought the European Dream was to make the tune for Queer Eye for the Straight Guy part of their national anthem?
Seriously speaking, Europeans and Americans just think differently. Europeans tend to be more into relaxing and doing less work (thus high taxes discourage people to do more work), while Americans have always pushed for achievement.
I frankly dislike the current European attitude that everyone can just take a year-long vacation. Europe's height of power was during a time when everyone was pressured to achieve and excel, and now Europe is turning into a decadent Rome.
Meanwhile Europe's former colonies (excluding African ones) are learning from their mistakes and Europe's own glory, and once they catch up to Europe (2 already have gone beyond Europe's total GDP), it'll be a bit of a wakeup call.