This sounds very similar to what the TSA has already proposed, with a trusted flyer card. There is no logical reason to oppose this, because guess what? If you do not want to give that information to the government, you do not have to do so! You will, of course, be subject to wait in longer lines, but that's your choice.

I have no problem with it. I've got nothing to hide, so go ahead, take a look at my background, do the check, and then please let me blow past all the folks who claim that airport security as it is constituted violates the Constitution.