Are you saying that Latin is something that is useful to everyday life and because we don't teach it to our children we're depriving them of this wonderous tool?
I personally do not know Latin, but I have never run into a situation where I needed to know it.
And to analyze the idea that, "Well, it's not Latin in specific, but that we are not teaching our children to think for themselves", this too has been bayed about for the last forever, Plato complained that "children today are not learning the things that they should"
I don't know which pedagogy is the "correct" one, stuff children with, seemingly, random knowledge and watch them "blossom" or to stuff them with narrowly focused learning so that they will flourish at whatever work they are funneled into.
But I do know that teaching a dead language isn't the bellwether you think it is, unless you're trying to start a jobs program for all those unemployeed Latin tutors.