Depends on which European country and which US state to be honest. Arguably would depend on which city too. In general, I'd rather live in the US, but it depends. In general, I'd rather live in Spain than the USA, or the Netherlands than USA.
But, if I could have a good enough income to live in a nice part of the SF Bay area...I'd probably take that over anywhere in Europe. Similarly, I'd probably choose living in a rundown muslim-filled suburb of Paris or Brussels compared to living in a low income majority black neighborhood in Memphis, Tennessee or Jackson Mississippi
Ultimately I think the comparison only makes sense if you narrow it down by profession. Would I rather be a tech worker/computer programmer in the US or Europe? Definitely US because much higher salaries. Same for farming.
Would I rather be a bus driver in Europe or USA? Hmmm, probably Europe. The salary for those professions are roughly the same between Europe and USA, but the European has greater worker protections and more affordable healthcare etc.
Basically, if I were rich or upper middle class...I'd much rather be in that position in the US, but if I was poor or had low wage work, I think I'd prefer Europe. I can see how working in fast food restaurant or even a normal restaurant kitchen in Europe could be kind of cozy, whereas it's basically a hellish existence in the USA if you aren't a teenager at your first job ever while living with your parents.
Overall though, because of my politics, I'd probably pick USA no matter what due to freedom of speech and ability to own firearms. Not sure any amount of a public safety net welfare system would supersede that for me.
I'd rather be a homeless person screaming the word Nigger in a public park while high on meth than be a person in Europe who says Nigger and gets sent to jail for it