> Older generations, who benefit most from fiscal redistribution (via taxes and transfers), are significantly wealthier than younger generations. Wealth poverty is significantly lower for older generations. Moreover, the wealth ratio of older to younger cohorts is relatively high in Japan compared with Germany and Italy, though lower than in the United States. The evidence thus points to significant wealth inequality across generations.
Where do wealthy young people come from? You mean the one who inherited the wealth from their parents? Or do you mean income tax? Well the income tax is usually far higher than capital gain isn't it?
https://www.imf.org/en/Publications/fandd/issues/2020/03/shr...
It's not a unique Japan problem tbf. The young people are getting shafted all over the world.