  Waiting time distributions of solar flares and {\sl coronal mass ejections
(CMEs)} exhibit power law-like distribution functions with slopes in the range
of $\alpha_{\tau} \approx 1.4-3.2$, as observed in annual data sets during 4
solar cycles (1974-2012). We find a close correlation between the waiting time
power law slope $\alpha_\tau$ and the {\sl sunspot number (SN)}, i.e.,
$\alpha_\tau$ = 1.38 + 0.01 $\times$ SN. The waiting time distribution can be
fitted with a Pareto-type function of the form $N(\tau) = N_0$ $(\tau_0 +
\tau)^{-\alpha_{\tau}}$, where the offset $\tau_0$ depends on the instrumental
sensitivity, the detection threshold of events, and pulse pile-up effects. The
time-dependent power law slope $\alpha_{\tau}(t)$ of waiting time distributions
depends only on the global solar magnetic flux (quantified by the sunspot
number) or flaring rate, independent of other physical parameters of {\sl
self-organized criticality (SOC)} or {\sl magneto-hydrodynamic (MHD)}
turbulence models. Power law slopes of $\alpha_{\tau}\approx 1.2-1.6$ were also
found in solar wind switchback events, as observed with the {\sl Parker Solar
Probe (PSP)}. We conclude that the annual variability of switchback events in
the heliospheric solar wind is modulated by flare and CME rates originating in
the photosphere and lower corona.
