Just to be clear I have not thought this out completely. It was just something that occurred to me so I thought I would throw it out there to hear the pros and cons from people on both sides of the gun issue.
1. Significantly more severe penalties for anyone caught in possession of an unlicensed, unregistered or illegal firearm. That goes for anyone caught possessing a legal, registered firearm that is registered to someone else (even if owner gave permission). I was thinking minimum $10,000 dollar fine and minimum 5 years in prison without possibility of early release. These would be felony charges.
2. Anyone with a registered firearm agrees to pay a $5,000 fine should their firearm be lost or stolen and they report it to the police. If the gun is recovered by police and it was not reported lost or stolen, the owner pays a $20,000 fine and is permanently prohibited from purchasing or owning a firearm. If that firearm was used in the commission of a crime and not reported lost or stolen, the owner pays the $20,000 fine and is held criminally liable for the crime that was committed, which is also carries a mandatory 5 years in prison.
3. Anyone who lives in a household of a registered owner of a firearm, can use that firearm for purpose of self defense within that household, or within the boundaries of the property in the case of home ownership. This also applies in a motor vehicle where the registered owner is present. Outside of the property or household, only the registered owner may publicly possess the firearm (see point #1). I'm sure there are other special circumstances that would apply, I just can't think of any at this time.
I am pro second amendment, but I also believe strongly in people taking personal responsibility when it comes to gun ownership. I believe that if there were stiff fines and severe penalties for both irresponsible gun owners, as well as for people illegally possessing a firearm, it would go a long way keeping guns out of the hands of criminals and those who would use them to hurt others.
I fully expect for this idea to have flaws, so please be respectful in your criticism.