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I believed in Santa as a small child. My small child life was magical and full of surprise and wonder. I never had a doubt in my small child mind that Santa existed right along with the Tooth Fairy and Cinderella and the Easter Bunny. My dolls and stuffed animals were just as real to me then too.
I'm not sure I can pinpoint the exact day/moment my small child life moved into a life of reasoning, questioning, and a new understanding of the 'real' world.
Two older brothers might have had a bit to do with it. They left the realm of small child fantasies behind a few years before I did. They loved to inform and in turn inhibit such small child fantasy.
I have two children that I allowed to be 'children' as long as I could let them without failing them as a good parent to educate and inform.... but all in due time.
The 'real' world life would soon enough envelope them in its sometimes harsh and trying moments. I sure wasn't going to open that door until I absolutely had to.
As I look back, I hold no ill will towards my parents for letting me be innocent and carefree for just a little while.
At times I wish I could go back to that time and forget all the BS of the world that awaits me outside my door every single day. I open that door and step outside of my comfort zone with a positive attitude and most days I succeed at the end of the day to return inside my door to my home/comfort zone without being touched by whatever BS tried to take me in/down/whatever.
So.... In answer to 'should parents tell their kids the truth about Santa? Who knows? If a parent is lucky enough, they won't have to until they absolutely have to when and if the child asks.