1. The mortality rate for children is lower than even the flu, and this is likely to do with age-related ACE2 expression. This is fact, and hopefully it leads to something that can help us lower the mortality rate in older folks, too. [1] They can of course spread it to older folks, though.
2. Mortality rate among the young is in line with the flu.
3. Mortality rate in older folks is terrible, and needs to be managed, but it can be managed. Those folks, and those with immune issues can and must be protected at all costs.
These three things together mean the death rate of such a strategy is nowhere near 1%.
> 330,000,000 ÷ 100 x 65 = 214,500,000
Serology studies pin the number closer to 0.6%, but of course that doesn't make the decision any less difficult -- although that is heavily, heavily age dependent.
What you're neglecting otherwise is the thrust of the article: lockdowns are temporary and the disease won't be stopped by lockdowns. Even under the most optimistic projection for vaccination, we may be hurtling towards the 65% number in the US one way or the other.
This article basically documents Sweden's approach. There hasn't been a COVID death in Sweden since August 24th, and at the moment, they continue to see ~150 new cases per day.
[1] https://www.uth.edu/news/story.htm?id=b40ccaec-50c5-465c-b2d...