I live in Southern France, which is a nice place (with good food). I have enough money to do almost whatever I want and have savings. I have 7 to 8 weeks/year of paid leave, which I can use pretty much when I want to. Health/unemployment insurance is included. Granted, I have no kids (by choice), but what more could I want? More money for what? Luxuries I won't even enjoy because I would be overworked?
I like the US and its people, and I understand that my way of life is not everyone's, but that's to give you some perspective on why some very talented European may want to stay in Europe despite the "low" pay.
A friend of mine, a mother of one, was almost begged by Google to work for them, with I suppose, the kind of pay a PhD in natural language processing can expect. She refused, instead preferring a much lower pay but with an incredible work/life balance.