What would happen if the United States became Europeanised?

Some politicians and economists in the United States want the United States to "Europeanise" itself in many areas. What would happen if the United States actually became Europeanised? Social welfare spending would be much higher; Income distribution would be much more positive for wage earners; Some taxes would be higher; The minimum wage would be higher; The fight against dominant positions would be much more active. A transition to this "European" regime in the United States would therefore be a very significant shock, which would lead to: A sharp rise in wage income and a sharp fall in earnings; As a result, a sharp equity market decline; A rise in inflation and interest rates, resulting in falling real estate prices; A shift from wealth-effect driven demand to wage-driven demand; Greater difficulty in financing business start-ups, perhaps less innovation, less incentive to innovate; A marked reduction in income and wealth inequality. This would therefore be a profound change from the American model.