You did make a good point Shoegaze99 however, I don't believe the point of view you dismiss is silly or short-sighted at all. On the contrary, I speak from a great deal of experience on the matter.
I still believe that some people shouldn't read the Bible simply because, if you do take it seriously or literally (and millions do), it can have a quite a harmful affect on individuals and society.
It may very well be a literary masterpiece and reveal a great deal about history and culture, but at what cost? Some people may be able to read it objectively, but many can't, and have been and are being damaged by the lifestyle it can lead to. And following on from that they can damage many people around them too. A lot of people believed this was a valid viewpoint in the past enough to have a public burning of Bibles.
Mosaix has said that American Psycho left a significant mark on him. No doubt others would find that kind of literature entertaining and not be bothered by it at all. So, it all depends on what kind of person you are as to what you should and shouldn't read.
If you're squeamish, don't read horror.
If you've recently been subject to a painful breakup with a partner, avoid a romantic novel.
And, if you're easily swayed by theological doctrine and have a fear of going to hell (and a whole host of other related superstitions or fears), steer clear of the Bible!