Tycoon Humphrey Craig is fearful that a "soak the rich" bill will pass in the United States Senate.

Caddish lawyer Lee Gentry is going out with Katy Costello, but carrying on an affair with dancer Carmen Brown. When he wants to end the dalliance with Carmen, she is so distraught that she becomes suicidal. Seizing the gun from Carmen, he accidentally shoots her, and thinking she's dead, concocts a series of increasingly outlandish alibis to cover his tracks under the guidance of a ghostly apparition that is his alter ego.

An amorous lieutenant is forced to marry a socially awkward princess, though he tries to keep his violin-playing girlfriend on the side.

Charley attempts to invent a non-slippery banana peel.