Bold strokes, such as cutting taxes and reducing the cost of public-employee benefits, are needed to help Michigan rebound, Mackinac Center President Joseph G. Lehman said Tuesday as part of a panel discussion at Wayne State University.

The forum, covered by The Detroit News, featured several speakers discussing Michigan's economy and how best to revive it.

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Lehman said that bringing state and local public-employee benefits in line with the benefits offered in the private sector would save Michigan $5.7 billion annually. These savings would help strengthen the economy, Lehman added.

The News reported that panelists agreed several "Michigan myths need to be corrected" in order for the state to move forward. Lehman, for example, pointed out that Michigan's tax structure is "resilient," whereas the state's tax system is commonly perceived as antiquated and in need of expansion.