In a significant financial policy update, Japan is set to raise its crucial 'income wall' to JPY 1.78 million. This means that individuals earning up to this amount annually are exempted from income tax, a major revision from the previous limit. This policy change has been initiated to ease the financial burden on low and middle-income earners and stimulate consumer spending.

In Japan, the 'income wall' or tax threshold is a critical factor for the economic climate. The decision to raise this threshold correlates directly with citizens' disposable income, thus affecting consumer spending and economic growth. It will especially benefit low and middle-income earners, resulting in a stir in public opinion due to its socio-economic implications.

In contrast to Japan, the United States implements a progressive income tax system where everyone pays at least a minimum tax. The idea of an 'income wall' doesn't exactly fit in the US framework. However, tax thresholds do exist in both situations but in different contexts and implications.