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Once you lose privacy, you can never get it back.

The population may trust the government now, but totalitarian regimes are returning to fashion and love when they can skip the data collecting bureaucracy and go straight into building or offshoring their gulags.

The problem is that while the goals of today's government may align with all of society (which is already never going to happen), that says nothing about a future government. That future government may have far more nefarious interests and then use data gathered under the government that was trusted to achieve their goals.

yeah, what if? :P