I'm not trying to derail the thread, but framing your point as "magnitude of salary" is meaningless and perhaps reflects one of the issues.
It's not the size of the salary that's important- it's the quality of life. Salary is one factor in the equation, but it's not the only factor.
For example, in the US the plumber pays for health care. In Europe he mostly does not.
There are a million things that go into a very subjective quality of live assessment. Salary is part of it, yes, but ultimately only a part.
And, if we're being honest, the US certainly acts the part of leader, it talks a good game, and everyone is happy to take their money. But is anyone actually following their lead?