In many developing countries folks don't get vaccinated either and a lot of them die. TB, Typhoid, Hepatitis and others are still major problems.
So with this approach, the US will be going the way of those developing countries.
Apart from the deaths, there will almost certainly be economic damage.
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Related: US will overhaul childhood vaccine schedule to recommend fewer shots (33 points, 4 days ago, 11 comments) https://news.ycombinator.com/item?id=46504844
Unrelated: MHRA approves self replicating mRNA Covid-19 vaccine (10 points, 5 days ago, 6 comments) https://news.ycombinator.com/item?id=46500392