The CFR in Italy is nearly 13%. Even if you make incredibly generous assumptions that there are no unreported deaths and they're only catching 10% of cases that still leaves the infection fatality rate at twice the number you propose
[1] https://www.reddit.com/r/CoronavirusUK/comments/fxgk8q/early...
Takeaways: Old population, Pre-existing conditions, Skewed testing
Adjust your numbers for population. Per capita numbers for the US are far from the worse case scenario.