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Tallulah Bankhead plays a giddy 1920s heiress who spurns the affections of executive Robert Montgomery because he makes a "mere" $20,000 per year. Tallulah is impoverished by the Depression, as is Montgomery. She refuses again to marry him now that they are equals, preferring to maintain her lifestyle by becoming the mistress of a clloddish millionaire (Hugh Herbert). Her new benefactor behaves atrociously, prompting Tallulah to run to the arms of Montgomery, who is now a blue-collar worker. Again stripped of her wealth, Tallulah marries Montgomery, who is promptly incapacitated in a violent labor dispute. Desperate to keep up her husband's medical bills, Tallulah takes to the streets. She is about to hit upon her first "John" when she is stopped by the kindly beat cop, who sends her back to her husband--and presumably a new lease on life.