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

LessonPrint · D2.Eco.12.3-5 · Set 19 · free to copy for classroom use

Answer key — Taxing Now or Borrowing for Later

Set 19. Prints on its own sheet.

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

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.