This is the best data set/graph to properly and objectively address the kooky premise of widespread extreme poverty in Europe, which seems to be the giant windmill that saxi obsesses about in his sleep...
BBS, you're starting from the premise that there really is a big poverty problem in Europe. That premise (saxi's mantra) is bull$hit.

the graph on the left illustrates the relative position of income levels broken up in population deciles (ie, left-most circle in US line represents the bottom 10% of the pop.)
What this graph shows is:
-the richest 10% are much better off in the US (which we knew)*
-the poorest 10% in the US are worse off than their counterparts in Canada, France, Germany, UK. W. european countries like Sweden, BeNeLux, Austria, Finland and so forth have similar distribution profile than France, Denmark or Germany. Only Spain and Italy have worse poverty levels than in the US...
-Strikingly, 
the bottom 10% in the US are worse off than the OECD average. This really kills the notion that the poor are worse off in the rest of the industrialized world. Only someone who is blind and/or stupid would believe saxi's outrageous hyperbole.
*note that this skewed income distribution has an important effect on the lives of those at the poorer levels, as it leads to things like very high real estate prices (see NYC, San Francisco Bay Area)