I have tailor/mining on my alt. While he has had a bit of help from my main, he has made some 44g by himself so far, by selling ore and not buying cloth. Ok, so my tailoring isn't very high (126 at lvl 25), but on the other hand, I do have a lot of gold. I don't expect to wade in money while levelling it up, but the income from mining should offset the expenses of tailoring, especially when you get as many of the items needed yourself. The big plus of tailoring is all the great BoP purples that you can make.
Fishing is a really good skill for tailors - if you fish in the pools, especially the flotsam pools, you will very often get chests with bolts of cloth and skins of all grades.