If you expect the average person to be able to understand an algebraic equation better than the existing system, then I’d suggest you get out of your social bubble and meet more ‘average’ people.
I honestly think they’d understand it about as much as they’d currently understand it - that is, not understanding it very much at all. So I think it would be about the same level of understanding but it would make a lot more sense and would be easier to calculate with.
It’d also remove a lot of incentives for squeezing your income/pension contribution to align with certain thresholds (i.e. tax bracket thresholds).
If you expect the average person to be able to understand an algebraic equation better than the existing system, then I’d suggest you get out of your social bubble and meet more ‘average’ people.
I honestly think they’d understand it about as much as they’d currently understand it - that is, not understanding it very much at all. So I think it would be about the same level of understanding but it would make a lot more sense and would be easier to calculate with.
It’d also remove a lot of incentives for squeezing your income/pension contribution to align with certain thresholds (i.e. tax bracket thresholds).