Closer to 1/3rd of the working population as teachers, actually, by my numbers. Current spending is $13k/yr per student, I'd bump that comfortably up 4x to $52k per year. That's about one full time teacher per student.
As for marginal ROI, if the effects are as dramatic as the stated research implies, it'd be more than worth it. It would be a larger increase than the entire implementation of formal secondary and tertiary education system combined, which cost a lot more than K-8. I don't think you can overstate how large the demonstrated effect size was. Think "industrial revolution" or "invention of the printing press".
Essentially you'd be spending an extra 3x the amount we currently spend to get... 5x? 10x? better outcomes. Results from those studies were equivalent to making the current best students in the country suddenly the very lowest tier of educational attainment - top 1% suddenly becomes the minimum standard. Think Rhodes scholars being "the new special ed kids", or the new "functionally illiterate must-pass graduates".
(This is all assuming that the research was accurate, and the magnitude of difference is really that large. I'd want to see a lot of follow up.)