> As a member of the working class, I find there’s little incentive to build something new or innovate because the effort required to navigate through all the burdensome regulations is overwhelming. On top of that, any additional income I might generate from bringing my ideas or initiatives to market would be taxed at more than 50%. For many people like me, the effort simply isn’t worth it.

I find it ironic you mention "classes" (regarding "as a member of the working class"). There are problems everywhere (either as an employee or as an entrepreneur). Feeling overwhelmed is just a feeling, does not say anything about how much you can do or if you get a reasonable workload.

I think what is holding Europe back is the people not trying and understanding various things without having lots of fears (of being overwhelmed, of large tax, of what people will say, etc.).

A balance must be stricken also between what you can do (leisure, family) and how many resource you produce/consume. The purpose should be for more of leisure/family but that is ONLY IF we (I am also European) produce/consume enough. Too many smart and capable people want to "just be an employee", which results in gaps in other places (entrepreneurs, politicians, etc.).