A better and more instructive comparison would be money spent only on instruction, adjusted for PPP and maybe student poverty.
As for sports, if sports aren't moving the needle academically then we shouldn't be funding them. If other nations priotized education over sport, and got better results we should learn from them.
Just throwing more money at probably won't do anything, what is likely is that they will double down on the strategies that aren't working.
We certainly could learn from what works around the world, but comparing raw numbers is simply not helpful.
We can also learn from what works in different states. For instance, Massachusetts, as a state, has PISA scores that are on par with the best in the world.
For example, New York State has the highest spending per student $24,040 and is ranked 14th in this survey[0] while Virginia is ranked fourth and only spends $12,216. Massachusetts spends $17,058 and tops the list.
A honest look at the school system may reveal that some parts of it are underfunded, but it will likely also reveal parts that are overfunded. I suspect a lot of progress can be made by being better stewards of the money they currently have, and therefore suggest starting there. Ultimately any taxes come from the wallets of families supporting the children we are trying to help here, making them poorer needs to show benefit to be justified.
[0]https://wallethub.com/edu/e/states-with-the-best-schools/533...
[0]https://nces.ed.gov/programs/coe/indicator/cmd