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

LessonPrint · D2.Eco.12.3-5 · Set 2 · free to copy for classroom use

Answer key — Taxing Now or Borrowing for Later

Set 2. Prints on its own sheet.

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