Homer and Marge go to a parent/teacher conference, leaving Grandpa Simpson at home to watch the kids. Homer goes to Lisa's teacher and is praised for her good behavior. Marge however, is reprimanded for Bart's behavior, with Mrs Krabappel suggesting that more stringent punishment measures should be taken to help Bart.
Arriving home, Homer and Marge find that Bart has broken Grandpa's dentures, and send him to bed without supper. Bart almost feels remorse, until Homer sneaks him some pizza, and falsely promises Homer that he'll be good.
Some days later, a commercial airs for the upcoming release of the "Itchy and Scratchy Movie." Bart eagerly gets a ticket to it, while continuing his badly-behaved ways. However, one day while saying he is watching over Maggie, Maggie sneaks out and begins to drive the family car which crashes into the local prison. This finally causes Homer to issue a punishment by tearing up Bart's ticket to the movie, and forbidding him from seeing it.
While Lisa and the rest of his classmates (and the world) revel in the film, Bart becomes more and more depressed and downtrodden. Marge and Lisa note Bart's somber mood, and both suggest to Homer that his punishment appears to have worked. However, Homer refuses.
Finally, after 8 months (and 9 Academy Awards), the film leaves the theaters. Though Bart claims that Homer has 'won,' Homer claims they both have, and that his punishment has benefited Bart.
The episode ends with an epilogue in the future, in which Homer and Bart (now Chief Justice of the Supreme Court) walk down a street and see the Itchy and Scratchy Movie playing in a second-rate theater. Homer gives in to Bart's request, and the two go in and watch the film together.