Panel 1: We find ourselves watching Elizabeth sitting on the floor next to a sleeping Farley and staring at the presents under the tree in what is probably meant to be a contemplative mood.
Panel 2: When John says her name in order to attract her attention, we're reminded that when most people hear something that sounds like "Huh?" when a person is surprised and confused, Lynn will always hear "UH?"
Panel 3: The strip proper has him remind her that Christmas isn't for a few days yet. She says that she knows this.
Panel 4: She says that she was just thinking about something.
Panel 5: What she was thinking about are all the kids who don't have presents to wake up to. John is mildly confused because he doesn't expect a child to be the one giving him a refugee in a war zone speech.
Panel 6: Anyhow, realizing that there are kids in hospitals and kids who are lonely make her realize how lucky she is.
Panel 7: She then says "Christmas is Jesus's birthday, isn't it, Daddy?" and John smiles and says "Uh-huh."
(It should be noted at this point that John does not quite realize is something that howtheduck did: nativity scenes make Liz think that "lonely kid in a hospital who doesn't have presents" describes The Man From Nazareth perfectly.)
Panel 8: The reason she asked a question she knows the answer to is that she expresses a wish to give Him something because of that mental association she makes between 'babe wrapped in swaddling clothes' and 'lonely poor kid'.
Panel 9: John smiles, hugs her and says that he thinks she already has by developing past the it's all about me stage.
Summary: Sure, it's pandering to the base and sure, they revert back to being self-absorbed dopes after they toss the tree to the curb. It's still nice to see.