can anyone find any problems in the code under the cut?? the complier keeps coming up with problems like "declaration of income with no type" what the??

its supposed to display the gross and the net pay of 2 individuals

#include<iostream>
#include<math.h>

float income, income1; //gross pay for A and B
float med, med1; //medical benefits
float tax, tax1; // tax

      income =(40*8.43);
      income1 =(35*5.67);

cout<<"The gross pay for individual A is $      ";
cin>>income >> setw(5);
cout<<"The gross pay for individual B is $      ";
cin>>income1>> setw(5);

// calculating medical benefits from gross pay
{
med = (tot_inc - 0.02);
med1 = (tot_inc1 - 0.02);
}
//calculating tax
{
tax = (med - 0.20);
tax1 = (med1 - 0.20);
}
cout<<"The net pay for Individual A is $      ";
cin>>tax >>setw(5);
cout<<"The net pay for Individual B is $      ";
cin>>tax1 >>Setw(5);

return 0;