Is Cain's 9-9-9 plan really a VAT in disguise?

Bachmann on Cain’s 9-9-9 plan: Turn those numbers upside down « Hot Air:
“The business tax in the Cain plan bears no resemblance to the present corporate income tax. The tax would apply to gross sales less dividends paid and all purchases from other companies, including investment goods. Thus, there would be no deduction for wages.”

This is far more similar to a value-added tax than to a corporate income tax.

VAT rate in UK = 20%
VAT rate in France = 19.6%
http://www.uscib.org/index.asp?documentID=1676



http://hotair.com/archives/2011/10/11/bachmann-on-cains-9-9-9-plan-turn-those-numbers-upside-down/