I personally think Santa is great when dealing with little kids. Their undeveloped brains are incapable of grasping generosity and the threat of rocks in their stockings if they are bad that year is, as Ephi put it, invaluable. When they get older, the parents can gently explain to their child that they were playing a game, then explain about "the spirit of generosity."
Besides, Santa is real. He is in disguise at my school with his wife.
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