Guns and cars both have their use but can kill people, if used recklessly. Firearms need similar law.
1) For every gun owned, one will pay annual license which will fund infrastructure such as teaching how to shoot, armed guards in school, as NRA suggested.
2) License will be issued based on criminal records and medical history.
3) Since guns can kill people, like cars, one will need to buy liability insurance from private insurance companies.
4) One can keep as many guns or any type of gun, including rifles. However insurance is charged per gun and type. Rifles (Porsche) will have higher premium than pistol.
5) Those without insurance will be liable for its illegal use by self and kids.
6) Govt will setup a buyback program if seller wants to discard existing gun.