No 40,000 of 1,000,000 is .04, not .004 as you assert.
.04 of the 1 million cases today would translate to 8 million deaths in the US if the rate is as you suggest and most all (60%) become infected as would be highly likely. [300M * .6 * .04]
That is not counting the 3 million deaths in nursing homes. Though as we know from this thread, they do not count for some here.
Your call in the oval office.
[I know the .04 number is overblown, but ae is putting this calculation in play]