Words don't have to mean what their etymologies suggest. Homosexaphobia might suit you better, but it's a mouthful. It also wouldn't address the criticism I have heard more people make, namely, that they are not "afraid" of homosexuals, but merely dislike / hate / pity them.

No doubt politicians and others use words like Humpty-Dumpty, but often with an attempt to misdirect or "reframe" the discussion. If you like a policy, you will describe it in terms that would mark dissenters as opponents of reason or humanity. This is not the purview of a single party or philosophy. We have (in the US) 'The New Deal', and 'Affirmative Action', but we also have 'Defense of Marriage Act' and 'No Child Left Behind.'