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Not just the poors though. You'd have to cut infrastructure spending, Social Security, Medicaid/Medicare, criminal justice, food and drug administration (you know, the people that make sure food is safe?), everything that makes our country more or less functional. This isn't something that the 1% would be fine with; it's more like the .1%, or .01%, because even most of the very wealthy people would end up getting badly fucked by the kind of cuts you would need to have in order to add that many people to the military without instituting oppressive taxes.
I think that saying that the current military budget would triple if there was mandatory conscription is actually being incredibly conservative. If you look at military spending as a percentage of GDP when the US last had something even in the same county as mandatory conscription--World War II--the US was spending over 40% of the GDP on the military.
I can't imagine most people in the US being okay with that kind of loss of necessary gov't function combined with insanely high taxes unless the US was also involved in an existential war.