Equity in Social Security for Individuals and Families Act

Equity in Social Security for Individuals and Families Act - Amends title II (Old-Age, Survivors and Disability Insurance) of the Social Security Act to permit married couples to elect to share their income for social security purposes in a manner similar to the filing of a joint tax return.

Provides that, for any year a husband and wife file a joint income tax return, both the husband and the wife shall each be considered to have been paid wages or to have derived self-employment income in such year for the purpose of determining the average monthly wage of the husband and the wife for Old-Age, Survivors and Disability Insurance purposes. States that the amount with which each spouse will be credited shall be equal to the higher of: (1) one-half the total of the wages and self-employment income paid to or derived by both of them in such year; or (2) three-fourths of the wages and self-employment income paid to or derived by whichever of them had the larger amount of such wages and self-employment income for such year.

States that any person who: (1) is the spouse of a person entitled to old-age or disability insurance and who has no wages or self-employment income; or (2) is the surviving spouse of a fully insured individual shall be credited with the amount of any benefits received under such insurance in determining the average monthly wage of such person for Old-Age, Survivors, and Disability Insurance purposes.

Lowers from 62 to 50 the age at which individuals become eligible for wife's, husband's, widow's, and widower's insurance benefits under the Old-Age, Survivor's and Disability Insurance program.

Establishes the percentage of the benefit amount of an eligible spouse to which an ineligible or surviving spouse shall be entitled at 75 percent of the amount to which the eligible spouse is or was entitled under title II. States that, when the ineligible spouse becomes entitled to benefits in his or her own right, the portion of the other spouse's benefit amount to which the previously ineligible spouse shall be entitled shall be decreased to 25 percent.

States that a spouse or surviving spouse not entitled to benefits under title II but who is or was married to an individual who is or was insured for disability insurance benefits shall be considered insured for benefits with a primary insurance amount equal to the primary insurance amount of the insured spouse.

Eliminates the requirement that husbands and widowers be receiving support from their wives in order to qualify for husband's and widower's benefits.

Enables a child who is entitled to more than one child's insurance benefit to receive the total amount of all such benefits as a single monthly insurance benefit.