Once you incur debt, it must be serviced. If you forego revenue via a couple of channels (income tax, inheritance tax), you can either (a) raise debt to replace the revenue you lost or (b) provide incentives so that the revenue foregone is invested (efficiently and judiciously) to spur growth, which brings in revenue or (c) raise revenue via other channels.
You can do some combination of the above. The point being, you have fewer options at hand once you incur debt, because default has dire consequences (ask Russia or Argentina), and printing money also has less desirable consequences (indiscriminate tax on everyone including those on fixed incomes and savers).
It's actually pretty much the same. As long as the government programs you are funding aren't too wasteful - and if they are the solution is to fix the waste - incurring sovereign debt is not that much different from foregoing revenue. The difference is that if you forego revenue from the top 1% you get worse outcomes than if you tax them or cut useful government spending or print debt.
Unironically, yes. Remember tax cuts isn't money just given away, the 1% didn't cause the spending part of the equation. You just think 1% should pay that tab.
