Comment by int_19h
That is indeed a problem with English, but even then it is possible to come up with a morpho-somewhat-phonemic spelling that would be far more consistent than modern English - because the bar set by the standard orthography is really that low.
And OTOH even modern English spelling often doesn't distinguish differences that are there in most dialects (e.g. "bear" vs "near"), so this isn't even a new problem. Realistically I suspect there's some "minimal reasonable set" of phonemes that need to be distinguished to reflect the most prominently distinct pairs in all major dialects, even if some subtle dialectal distinctions might not be reflected in spelling.