Robert decides to cancel the Christmas holiday because he is disgusted with his children's greedy behavior. On Christmas Eve, all of the children have the same strange dream where they are visited by elves, which look a lot like Wendell and Robert. The elves make each of the kids realize how terrible they've been acting. The next morning Robert has a change of heart and decides to celebrate Christmas as usual. However the kids decide to celebrate Christmas a different way by giving all of their presents to needy children.
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