I hear these salary comparisons a lot, but when I was studying at the most popular Dutch technical university none of the future SWEs I talked to where even considering moving to the US (this was back when there was an excess of swe jobs everywhere). There's not much of a braindrain of engineers as far as I can tell, European engineers are not vastly less impressive than their American counterparts, and the people running succesfull startups in the US do not posess any particular brilliance.
All of which is to say, I don't think lack of Software Engineering talent is the problem.
All of which is to say, I don't think lack of Software Engineering talent is the problem.