I can identify easily with this subject having been bought up with a strict religion until the age of 16. Luckily for me I have balanced parents and when I made the decision to distance myself from the religion, my decision was respected. Sadly this is not always the case. I can see the fors and against for children being raised with religion. I know from my own experience that it is very very difficult for a child to shoulder the responsibilities put on them by a religion and I also know that this can make them esy targets for school bullying etc etc.
However, a positive side of my up bringing has been that it has taught me to stand up for myself; not be afraid to express opinion, even if it goes against the crowd and it also protected me to a large extent as a young person from getting into trouble to early!
Of course a child brought up in religion is usually going to want to rebel somewhat (and that can be fun!
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In short I dont think it is wrong for a parent to guide their child under a chosen religion, so long as they remember that that child is a person in their own right and has the ultimate right to claim or refute that religion and should be able to take this option without fear of disapproval or shunning, which occurs a lot these days.