On This Day…

It’s a Wonderful Life

December 20, 1946

Frank Capra‘s Christmas classic starring James Stewart and Donna Reed premieres and is accused of being a communist plot. Although it did poorly during its initial release, it is now one of the most popular films in American cinema. Earning only $3.3 million against its $3.7 million budget, it caused the collapse of its production company. The only award it won was for its fake snow.