All I'm going to do today is give you a link to an article that should be required reading for all parents, teachers, and librarians. It's a very well researched article from 1998, but I think you will agree that when it was written really doesn't matter at all. It's truly a timeless piece.
It's called "What Reading Does for the Mind," and I found it through this Reading Tub post, but it was Jess Glass over at the Discursus blog who brought it to our attention in the first place.
I hope you enjoy this article as much as I did!