What I think is that many of us in my country, where government is quite powerful (and still democratic) have reached a level of comfort such that the fact of having some state agency looking at some of my detail is totally acceptable since it doesn't change our comfort.
Now, tell those same people they'll have to pay a tax based on the destination they choose for holidays, and you'll get them in the streets (I'm exagerating a bit, but you get the picture)...
"It's not about the government having your bank account details. Do you want scammers to have your bank account details? Identity thieves? If encryption is outlawed, you won't be able to keep it from them."