If this becomes a nationwide trend, I would suggest abandoning the colored lights/red-&-green decorations theme and go more overtly Christian (Nativity sets, etc.).
There is no need to punish your kids (no gifts, no tree, etc.) but as the season becomes more increasingly secularized in the public arena we need to bump up signs of our faith (and the reason for the season) where we can do so (on our cars and in our yards, until the homeoweners' association joins in this "religious-neutral" thing).