This is an old rumor - there is a guy who did sort of myth buster type tests on this. When the waders fill up - the water inside the waders is the same weight as the water outside of them - so why would that water sink?
Your waders would fill up - you either swim/walk with them to shore - that is when they get heavy!
YouTube Wader Myth I thouhgt abut this too for a while till I saw some of this information. I don't think about it too much now.
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Political Correctness is a doctrine, fostered by a delusional, illogical minority, and rabidly promoted by an unscrupulous mainstream media, which holds forth the proposition that it is entirely possible to pick up a turd by the clean end.