Yeah, I clearly know nothing. I've only been living and running a business in the EU for 25+ years.

The effective tax rates in the EU are significantly higher than in the US. Have been for ages. Trump's 2017 tax giveaway to the rich made the US effective rates something like 10-11% IIRC.

EU finance has plenty of problems, starting with the weak central bank that can't function like the Fed in the US (IMHO). But the EU economy as a whole is stronger than the US (although weaker than it was decades ago) because the EU has maintained both a higher level of manufacturing, and a higher level of worker input in the economy. Tax havens like Ireland and Luxemburg notwithstanding.