Memo to news people: tax cuts don’t have to be paid for. The money is ours; the government takes it from us by threat of force, i.e., taxation. It’s government programs that have to be paid for. Tax cuts are not government programs. So if you want to ask how government programs will be paid for if taxes are cut, fine. I will answer that the programs should be abolished.
The more you think about the notion that tax cuts must be paid for, the more ridiculous it sounds. One might say tax cuts have have to be made up for (by cutting spending), because the government would have less revenue, but not paid for. Moreover, since taxpayers pay for everything government does (sooner or later), the conventional wisdom about paying for tax cuts translates to: How should the taxpayers pay for their tax cuts? To which the only proper answer is: Huh? Say what?
From the taxpayers’ vantage, tax cuts cost nothing. We might say they cost the politicians, bureaucrats, and government contractors something–but it’s something they had no right to anyway. Securing my wallet “costs” a would-be thief my money. But who cares?