I'm not sure I would call it a result of the entrepreneurial (what a mouthful that word is) spirit, but more a result of the American public being mislead about the true state of our society.  We like to believe that we are so resourceful, innovative, etc, and that is why we "rose to the top".  Everyone who lives here likes to think they are going to hit it big.  

In reality, we have been steadily moving towards a system of taxation that favors wealth over work.  The middle class has steadily been shrinking for many years.  We have moved into a mindset that consumption is the central goal of all our lives, and in the process have ended up augmenting our lifestyle based on going deeper and deeper into debt.  

I think it's a mistake to think of the United States as being somehow more exceptional than Europe or anywhere else.  We're different, certainly, but not necessarily better.  I doubt there is any significant difference in personality type based on people leaving Europe to come here.  You can use that sort of thinking to make almost any argument.  For example, you could just as easily say that "only those who couldn't cut it in Europe came to America."  It would have just as little validity to it.  

Europe right now is grappling with the opposite problem that we are.  Their society is designed to be more egalitarian, so that even those who are poor are better off.  For example, European poor can still go to the doctor, poor here don't have that luxury.  Now, the opposite side of that is that in ensuring stability and economic fairness, that their economies are a bit less fluid and able to quickly react.  Clearly they have problems, but they are also relatively overblown by the U.S. financial press.  

I don't disagree, especially at the end about work being necessary.

My point was essentially based on the delusional idea that 40% becomes 1% - not only won't it happen, it is not possible.

And yet, Americans believe it. There are a lot of beliefs which seem fairly unique to America, if only in part because no other society had the chance to live in such luxury that they could ignore the world around them for a generation or two. (And for those Americans who believe Europe is living in a dream world - sure, they are, in part because they also know very well what a nightmare world looks like too - they worked hard to achieve the dream.)

Sort of like saying global warming isn't true, because it is just raining for a week in DC - I should trademark something along such lines as 'Cold rain means no global warming' for the oil companies.