This paper analyzes the tax burden that will be imposed on U.S. taxpayers over the next five years as a result of President Carter's proposed $1 trillion 16.4 billion military budget. Data are provided for states and selected metropolitan areas. The destructive impact of this enormous expenditure-including further inflation, soaring interest rates, and continued impoverishment of the civilian economy and American society as a whole—is stressed.
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References
1.
Burning up $1 trillion. Wall Street Journal, January 22, 1980.
2.
Municipal snarl. Wall Street Journal, February 28, 1980, p. 1.
