When my kids were trick or treating age, they picked their favorite candy out of the stash (about 1/4 the total haul) and the rest was exchanged for new (to them) books. The huge pile of non-favorite candy would go into a big bowl on the table and the next morning (Nov 1) the candy would be gone and books would be in its place.

We started this tradition when our kids were young and they were as thrilled about the books as they were about the candy. They enjoyed trick or treating and didn't mind exchanging most of the candy for books. I would then send it overseas to the troops - we are a military family and I always knew someone who was deployed. Whatever the tactic, I agree that kids don't need all that candy.