A default response to virtually any Christian argument against Catholicism is that the Bible itself owes its origins to the Catholic Church. There are large numbers of problems with this claim, but one I find particularly effective is one that I also often overlook.
Catholics claim their Church originated in the first century, specifically in Matthew 16, when Jesus told Peter He would build the Church upon "this rock", which Catholics interpret to have been Peter. Since they claim to have originated in the first century, they obviously didn't exist in 400 B.C., when the final book in the Hebrew Bible (Malachi) was completed. Thus, even by their own standards, they can have no claim to have compiled the Old Testament. That honour, of course, belongs to the Jews.
Of all the disputes Jesus had with the Jews, the canon they accepted was not one of them. Through His constant citations and authoritative declarations, Jesus implicitly endorsed the Hebrew canon that existed in His day. In other words, it was not only in existence during His time, but the Catholics actually got it wrong when they added to it in 1548. If Catholics are so bad at compiling canon that they actually add non-canonical books, what makes them think our list of books comes from them?
But that's getting off topic. What's more important is that the Jews, not the Catholics, genuinely did give us the Old Testament. If Catholics are going to argue that Christians should submit to their authority because they (falsely) claim to have produced the New Testament, should they not also submit to the authority of the Jews because they (factually) produced the Old? The obvious answer is no. Although there are many Jews who have accepted Christ as their saviour, most Jews claim Jesus was just a heretic who died for blasphemy.
As a Christian, I believe the Jewish Old Testament. Jews can demonstrate that their religion has existed since 1400 B.C. It originated with Moses who, acting upon the authority of God, freed the Jews from Egypt and produced the Law of Moses (except, of course, the portion of Deuteronomy which describes his death). They can also demonstrate that they produced every single Old Testament book and compiled it into the Hebrew canon. Despite this, I have no issue demonstrating, from the Old Testament, why Jews should become Christians. So, I'm going to be extremely generous. I'm going to pretend that Catholicism not only existed in the first century, but that it was even helpful enough to gather all of the New Testament scriptures together and add them into one book. Just as compiling the Old Testament doesn't give Jews the authority to say things like "Jesus was not God", so also would Catholics compiling the New Testament not give Catholicism the right to say things like "Finally the Immaculate Virgin, preserved free from all stain of original sin, when the course of her earthly life was finished, was taken up body and soul into heavenly glory, and exalted by the Lord as Queen over all things" (Catechism of the Catholic Church 966). The fact is that whoever compiled the Bible, Catholic doctrine repeatedly violates it.
And that's the point. The whole reason Catholics attempt to demonstrate their authority over the scriptures by lying about having produced them is because if the Catholic Church does not supersede the scriptures, the scriptures supersede the Catholic Church. That leaves the Church with some major issues which can never be resolved. Reading the Bible naturally will never lead one to the Catholic Church. That is why they must appeal to this argument. But as we've just shown, it's an invalid argument. Catholics are not required to read the Bible according to the views of their Church. Rather, they should judge their Church and its views by the Bible. If it fits, keep it. If it doesn't, scrap it. Always ask yourself "if I was not Catholic, would I read this scripture this way?"
The answer you'll give is usually no. No you will not conclude Peter was the first Pope, there was nothing Papal about him. No you would not believe Mary is a few steps down from a goddess, she was a humble maidservant whom God chose for greatness, nothing like how Catholicism describes her. No you would not believe grace is handed out piecemeal by observation of the 7 sacraments, grace and works are the antithesis of each other (Romans 11:6, Ephesians 2:8-9). From the minor to the major, the Catholic Church is absolutely riddled with unChristian falsehoods, which is precisely why they have to use the argument that they produced the scriptures. It's because the scriptures just refuse to conform to their Church's dogmas. As I've said before, while scripture should be our common ground, it isn't. It's like if a shark and a bear had a fight on land. The shark has a pretty nasty bite, but much like the Catholic Church, it doesn't have a leg to stand on.