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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 3 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.What is the difference between taxing and borrowing for a programme?
  • A.Borrowing is free
  • B.Taxing pays now; borrowing pays later, with interest
  • C.Taxing needs no law
3.What is the argument against funding it that way?
  • A.Councils are slow
  • B.Taxes are complicated
  • C.People with homes pay for homes they will never live in
4.Who ultimately repays money a government borrows?
  • A.Taxpayers, over the years the debt is repaid
  • B.The lenders
  • C.The builders
5.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
6.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
7.The white paper says the cost falls on taxation and borrowing. What is taxation?
  • A.Money councils earn
  • B.Money the government prints
  • C.Money raised from the public to pay for what government provides
8.What is the answer to that argument?
  • A.Taxes will fall
  • B.Everybody moves
  • C.Bad housing costs everybody through illness and lost work

LessonPrint · D2.Eco.12.3-5 · Set 3 · free to copy for classroom use

Answer key — Taxing Now or Borrowing for Later

Set 3. Prints on its own sheet.

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

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.