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That's especially true when Sen. Grassley's involved. He has developed an unfortunate fetish for reporting more information to the government. As head of the Senate Finance Committee, he's spent years investigating the tax status of various non-profit organizations.
The same nosy impulse that's caused Grassley to root around in the dealings of televangelists is what's driving the current law.
It's an impulse based on a false understanding of public accountability. In many cases, when someone notes that a politician wants more accountability, that's a good thing. But Grassley's notion of how it ought to work is grass backwards.
You see, the government is supposed to be accountable to the people, not the other way around.