“Perceptions” follows nepo-baby playwright Leslie and his old guard progressive producer mother Mildred as they stage a spy thriller musical: “Deceptions”. Leslie longs to make a real difference with his art, but his good intentions fall short in his writing, beyond the surface level. He is also secretly dating Stephanie, who plays the lead in “Deceptions”.

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As rehearsals begin, Stephanie challenges Leslie on the lazy writing and empty virtue signaling in his script. Encouraged by Stephanie, Leslie begins rewriting the show into a radical anti-imperialist piece. Mildred agrees with the message, but cautions Leslie about the realities of the industry. 

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The new version of “Deceptions” centers on a spy sent to the Arabian Peninsula to train freedom fighters against a corrupt dictator. A local shows her that this is only a cover to install a regime sympathetic to US business interests.  In the play's climax, the spy risks everything to leak classified documents to the press in an attempt to stop the coup.

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When Leslie follows Mildred’s advice and tones down his revisions, Stephanie’s gentle but unsparing honesty leaves him in limbo. Then Mildred discovers Leslie and Stephanie are dating. She threatens to fire Leslie or pull funding for the show completely unless he pulls the risky political content.