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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 15 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.Lists are secret
  • B.Its funds and its materials are both limited, so it must choose
  • C.Councils cannot build
2.Who ultimately repays money a government borrows?
  • A.Taxpayers, over the years the debt is repaid
  • B.The builders
  • C.The lenders
3.The white paper says the cost falls on taxation and borrowing. What is taxation?
  • A.Money the government prints
  • B.Money councils earn
  • C.Money raised from the public to pay for what government provides
4.What is the answer to that argument?
  • A.Taxes will fall
  • B.Everybody moves
  • C.Bad housing costs everybody through illness and lost work
5.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
6.What is the argument against funding it that way?
  • A.Taxes are complicated
  • B.People with homes pay for homes they will never live in
  • C.Councils are slow
7.Why is a house built for one family paid for by everybody?
  • A.Families cannot pay
  • B.Houses are cheap
  • C.Because the country decided housing was a public responsibility
8.Why might a government borrow rather than tax for housing?
  • A.The homes last decades, so the cost can be spread over decades
  • B.Borrowing is cheaper
  • C.Taxes are illegal

LessonPrint · D2.Eco.12.3-5 · Set 15 · free to copy for classroom use

Answer key — Taxing Now or Borrowing for Later

Set 15. Prints on its own sheet.

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