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Taxing Now or Borrowing for Later is a free printable Grade 3 to Grade 5 social studies worksheet on how government pays for what it provides, aligned to Common Core standard D2.Eco.12.3-5. It prints 8 questions with an answer key on its own sheet of paper, in 25 versions that each ask different questions, so no two pupils in the class work from the same page. Print it from the browser or download it as a PDF — no account, no email.

Set 11 of 25 · the same problems every time you open this link.

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Set 1 has all 25 in a single PDF. All 25 sets ask different questions.

Taxing Now or Borrowing for Later

D2.Eco.12.3-5

NameDate

Circle the best answer.

1.Why can a council not simply build every home its list needs?
  • A.Its funds and its materials are both limited, so it must choose
  • B.Lists are secret
  • C.Councils cannot build
2.Why is a house built for one family paid for by everybody?
  • A.Because the country decided housing was a public responsibility
  • B.Families cannot pay
  • C.Houses are cheap
3.What is the difference between taxing and borrowing for a programme?
  • A.Borrowing is free
  • B.Taxing needs no law
  • C.Taxing pays now; borrowing pays later, with interest
4.Who ultimately repays money a government borrows?
  • A.Taxpayers, over the years the debt is repaid
  • B.The builders
  • C.The lenders
5.What is the answer to that argument?
  • A.Bad housing costs everybody through illness and lost work
  • B.Taxes will fall
  • C.Everybody moves
6.The white paper says the cost falls on taxation and borrowing. What is taxation?
  • A.Money raised from the public to pay for what government provides
  • B.Money the government prints
  • C.Money councils earn
7.What is the argument against funding it that way?
  • A.Councils are slow
  • B.People with homes pay for homes they will never live in
  • C.Taxes are complicated
8.Why might a government borrow rather than tax for housing?
  • A.Taxes are illegal
  • B.Borrowing is cheaper
  • C.The homes last decades, so the cost can be spread over decades

LessonPrint · D2.Eco.12.3-5 · Set 11 · free to copy for classroom use

Answer key — Taxing Now or Borrowing for Later

Set 11. Prints on its own sheet.

  1. 1.Its funds and its materials are both limited, so it must choose
  2. 2.Because the country decided housing was a public responsibility
  3. 3.Taxing pays now; borrowing pays later, with interest
  4. 4.Taxpayers, over the years the debt is repaid
  5. 5.Bad housing costs everybody through illness and lost work
  6. 6.Money raised from the public to pay for what government provides
  7. 7.People with homes pay for homes they will never live in
  8. 8.The homes last decades, so the cost can be spread over decades

More practice for D2.Eco.12.3-5

Explain where the government gets the money for what it provides.

Teaching this next? Taxing Now or Borrowing for Later is the 55-minute plan for it, with the misconceptions to expect.

All Grade 3 to Grade 5 worksheets

Last reviewed 2026-09-05. Aligned to D2.Eco.12.3-5 of the C3 Framework for Social Studies State Standards.