Why are Democrats OK with government monitoring every American's bank account?

Why is every Democrat in Congress OK with government monitoring the bank transactions of every person in this country?

If someone is suspected of illegal activity, GET A WARRANT! That’s the only Constitutional way for the government to gain access to this personal information. — Thomas Massie (@RepThomasMassie) October 12, 2021

Fox Business reports, “Congress is out of town but the debate over Democrats' massive reconciliation spending bill continues, including over one provision that would require banks to report the inflows and outflows of any account with more than $600 in activity per year to the IRS.

Biden highlighted the provision in a Sept. 16 speech, pushing the bill as a way to go after rich people and close the wealth gap.

'It would ask just for two pieces of information from the banks of these folks – the amounts that come into their bank accounts and the amounts that go out of their bank accounts,' Biden said. The president added that this is so they can 'pay what they owe, what the existing tax code calls for."

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