The fact that they have the power/authority to acquire things illegally is what I have a problem with.
When you go to work for the Federal government, or for the US Military (in a way, the US federal government too), you have to sign papers to allow for a background check. Although you can't be employed without freeing those up, its still in your power to deny them access to it.
With this bill(?) it appears that, for example, if you run a small business and are making a large amount of money signing over quite a bit to a not for profit organization (I think there was a problem with those last year donating to terrorists), you could come under investigation without any real reason other than its speculated you could potentially be supporting terrorists because in the past not for profit orgs were supporting terrorists.
Besides, the terrorists aren't the ones that are going to destroy us - they are banking on us, the citizens, to become leary enough that we start giving up our freedoms and let us destroy ourselves.
-SW