Lent is an important and traditional tradition in the religion of Catholicism. I think that a tradition like Lent should not be forgotten by Catholics. There are many more younger Catholics who seem to not follow such traditions. But I think it still has its place among most of the followers.
Lent is very important and has strong biblical understanding behind. It is formed around Jesus Christ and his relevance for Easter and marking a solemn observance for the liturgical year of many Christian denominations. The Catholics are centered around the Christian religion and should have some overall respect for Lent.
Yes, the observation of Lent is a symbolic ritual in which Catholics observe and respect the sacrifices that Jesus Christ made for our sins. Religious practices, utilized with a spiritual mind, can be very helpful and instrumental in exercising faith. Aside from the religious aspect of Lent, it can be an extremely positive and healthful method for releasing bad habits. Many people choose to give up smoking, sweets or alcohol, and often find that they have set themselves up for a healthier lifestyle. All in all it is a powerful and positive observation of Jesus Christ and of our own power to give up our vices.
Yes, Catholics should still observe Lent, because it is a good way to practice to be a better person. Also, Catholics traditionally observe Lent, and it is a good way to observe one of the traditions of the Catholic faith. The person can focus on their relationship with Christ, rather than the thing they are giving up.
Catholicism is based on the premise that the ideas of Christianity are revealed through acts as prescribed by the Catholic Church. Accordingly part and parcel of being Catholic is to do what the Catholic Church tells you to do. In this instance observing Lent, to give something important up, is part of understanding Christianity according to the tenets of the Catholic Faith - to not observe it would be to, by definition, decide to not be Catholic.