Read USB signals with LPT

So here's a question for you whiz out there.

I want to tap the data line on a USB device and read the signal and I want to do this using my LPT. So far the idea my friend and I came up with is to plug the USB device to a USB line, splice that line to tap out the data line with a physical wire, and then reconnect everything to another USB line before plugging it into the USB port. We would then take that tapped line and hook it up to a LPT plug. What do you make of this idea? We would have to come up with a software somehow to read the signal through the LPT, any advice?

Any tips/advice/suggestions would be appreciated, thanks!