Letters to the Editor

Wealth inequality is a global problem

A letter about the Trans-Pacific Partnership agreement (“Trans-Pacific Partnership needs more attention,” Nov. 20) described it as being a treasonous “race to the bottom” for our country. It further claimed the TPP would export jobs to poor countries where wages are much lower than ours and even threw in some localized class envy by stating that it would only benefit our wealthiest 1 percent.

A third of the world’s population is said to make about $2 a day and, according to a former lead economist for the World Bank’s research department, the poorest 5 percent of Americans earn, on average, about the same as the richest 5 percent of people in India. Our individual earnings are very high when measured globally.

If one sees wealth inequality as being a problem for our country, how can it not be a bigger problem for the world? Determining what is fair and equitable for thee is always easier when one limits who is allowed in the game. I think open markets produce the best results.

Bill Waddell, Pismo Beach