I think the critique is that the privacy is being used as a mechanism for breaking the law, by hiding illegally gotten gains.
Swiss banks will routinely refuse to honour legal requests for information from international law enforcement, e.g from 3rd world countries investigating their own corrupt politicians.
I'd be interested in hearing a logically consistent argument for why bad guys hiding illegally gotten gains is a legitimate reason for opposing banking privacy, but bad guys using encrypted communication platforms for planning crimes isn't a legitimate reason to oppose communications privacy.
In both cares, the information would of course only be available to the government who will only ever use it for Legitimate Good(tm).
There was NO income tax on individuals up until WW1 ever in the US. Through a slow process that takes years to change the Federal government has crept into our lives taking more money and control. It is extremely worrysome to me that other young people my age want more government control and not less.
https://en.wikipedia.org/wiki/Income_tax_in_the_United_State...