system
Given the following post, respond as if you're commenting on Reddit:
human
Why are Japan's and Korea's Gini indexes so low even without big income redistribution policies?
gpt
There are major policies for redistribution—namely, Japan’s tax code. 

The top income bracket in Japan starts around $275K, and is 45%. The top income tax bracket in the US begins around $550K and is 37%.

In addition, the top bracket for Japan’s inheritance tax is 55%, with estates over around $200K being taxed. The US has no federal inheritance tax, with only estates of over $11MM being subject to estate taxes, which cap out around 40%.

Lastly, Japan has no step up in basis upon death, whereas the inherited assets in the US will typically receive this step up.

All this contributes to making it more difficult to build generational wealth in Japan vs. the US.