Before I answer your question you need to know why you're seeing black bars.
It is apparent that you're completely unfamiliar with Aspect Ratios.
The aspect ratio of an image is its width divided by its height. Regular TVs have an aspect ratio of 4:3 (or 1.33:1). HDTVs have an aspect ratio of 16:9 (or 1.78:1). Computer monitors, have the same aspect ratios as TVs.
So why are there black bars with movies. Here's the answer. Practically all movies today are filmed with aspect ratios of 1.85:1 or 2.35:1. Both of these aspect ratios have been in common use since the 1950's. (It is not something new and it is unlikely to change as far as film is concerned). So what does this mean. Movies are wider than the HDTV aspect ratio of 16:9.
Movies with a 2.35:1 ratio will always show bars and only fill about 3/4 of the height of 16:9 screens.
Movies with a 1.85:1 ratio will also display black bars on 16:9 screens, albeit very narrow ones. If the TV or monitor has built-in overscan, then black bars will even be narrower.
On older movies you will find many other aspect ratios used, some as high as 2.76:1 (MGM Camera 65/ Ultra Panavision 70).
Some Disney movies such as Snow White were filmed with the 4:3 (or 1.33:1) aspect ratio. With Snow White, you'll get bars on the left and right side on a 16:9 screen. However, on a 4:3 screen, Snow White will fill the entire screen.
It is absolutely normal to see black bars. It is the only way to see the movie the way it was intended.
That being said, a lot of people don't like black bars. So a lot of HDTVs offer features such pan & scan, zoom and/or stretch to counteract the black bars to appease these people. iTunes as far as I know doesn't allow pan & scan, zooming or stretching. Unless, your computer monitor has the same features as TVs, you're stuck with the black bars.
However; black bars are not a problem. Black bars are in fact a solution. Black bars allow a movie to be seen as it was intended to be seen. Personally, I prefer the black bars. I find it wrong to manipulate any image to remove black bars. I want to watch the movie or show as the director intended it to be.
If you'd like more info on aspect ratios, check out these sites.
[DVD Pictures|http://www.highdefinitionblog.com/Pages/DVDPictures.htm]
[Wikipedia|http://en.wikipedia.org/wiki/Aspect_ratio_%28image%29]