I don't think anyone's arguing people should be taxed twice. What they are arguing is that individuals should be taxed at the event of first utility (that is,

I don't think anyone's arguing people should be taxed twice. What they are arguing is that individuals should be taxed at the event of first utility (that is, realizing value from the gains). And then the tax is paid, so not paid again, or offset, later. And what we're really talking about here is individuals using equity loans for the majority of their income.