One of the things that I like most about the Looney Tunes cartoons - aside from their full-scale irreverence - is how they play off of the popular culture of their eras. "Racketeer Rabbit" features gangsters Rocky and Hugo (resembling Edward G. Robinson and Peter Lorre, respectively) hiding out in a house where Bugs Bunny is staying. As soon as the rascally rabbit meets the thugs, he makes their lives a living hell. I think that my favorite scene is when they make Bugs talk; if only we all had the courage to do that! And then of course, there's the handing over of the dough.
Anyway, it's totally hilarious. You just might laugh yourself sick. A veritable classic. Of course, I didn't get the cultural references when I was really young.
And don't worry about not laughing: you'll probably spend the whole time in laughter.