How $1 Million Could Shrink in 1960

This Hanover Bank ad ran in June 1960. Back then, $1 million was equivalent, in purchasing power, to well over $7 million today.

One million dollars isn't even worth what it used to be a decade ago. If the bad old estate tax reappears as scheduled next year, the $1-million exempt amount needs to be raised to at least $1.25 million to represent the same level of wealth as it did in the year 2000.