But in more recent years I’ve come around. As America has moved closer to being an oligarchy — with staggering inequalities of income, wealth, and power not seen in over a century — and closer to Trumpian neofascism (the two moves are connected), “It’s a Wonderful Life” speaks to what’s gone wrong and what must be done to make it right.
Soon after “It’s a Wonderful Life” was released, the FBI considered it evidence of Communist Party infiltration of the film industry. The FBI’s Los Angeles field office — using a report by an ad-hoc group that included Fountainhead writer and future Trump pin-up girl Ayn Rand — warned that the movie represented “rather obvious attempts to discredit bankers by casting Lionel Barrymore as a ‘scrooge-type’ so that he would be the most hated man in the picture.” The movie “deliberately maligned the upper class, attempting to show the people who had money were mean and despicable characters. This … is a common trick used by Communists.”
The FBI report compared “It’s a Wonderful Life” to a Soviet film, and alleged that Frank Capra was “associated with left-wing groups” and that screenwriters Frances Goodrich and Albert Hackett were “very close to known Communists.”
This was all rubbish, of course — and a prelude to the Red Scare led by Republican Senator Joe McCarthy of Wisconsin, who launched a series of highly publicized probes into alleged Communist penetration of Hollywood, the State Department, and even the US Army.
The movie was also prelude to modern Republican ideology. Since Ronald Reagan, Republicans have used Potter-like social Darwinism to justify everything tax cuts for the wealthy, union-busting, and cutbacks in social safety nets. Rand herself became a hero to many in the Trump administration.
Source: Want to Know What to Do about Trump? You Might Start With “It’s a Wonderful Life” | The Smirking Chimp