Yes, and that is still only buffer. Many millions can still be sickened or die, the assumption is just we have enough people vaccinated to prevent the easy spread to these people. Given that, and time, it’s possible to achieve something that looks like herd immunity, but it is not “immunity.” It’s completely a misnomer.
We’ve never achieved what Atlas and the anti-vaxxers are suggesting, with any disease, at all, ever, of any kind. If smallpox got loose somewhere today, we’d quickly see what kind of “herd immunity” we have.
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