Paperbacks are _not_ a regressive tax. The book is equally readable in both forms, and often more portable in paperback. Hardcover books are (mild) luxury items

Paperbacks are _not_ a regressive tax. The book is equally readable in both forms, and often more portable in paperback. Hardcover books are (mild) luxury items that can command a higher profit margin and thus are easier for publishers to justify. Very few individuals are buying hardcover books in order to maximize utility over many decades