It would be far easier to make existing English spelling more phonetic using the existing alphabet.
Such efforts wud hav the benefit of beeng immeedeeatly obveeus to existeeng speekurs
Such efforts wud hav the benefit of beeng immeedeeatly obveeus to existeeng speekurs
Only if there is a single "correct" (or canonical) way to spell each word.
If every speaker uses a phonetic alphabet to spell their words the way they speak them then there will be no problem reading them back phonetically.
Now, understanding these phonetically spelled words might be a problem for some readers, but that's no different from the problem in understanding they'd have when they heard someone speak in a different accent.
I can see this being useful for specific cases but not as a general practice.