The writings of our Founding Fathers make it very plain that arms were to be kept for the specific use of keeping our government from becoming despotic. If we had been keeping with that aspect, we would have access to every arm the government now has, depending on whether or not we could afford them.
Personally, I like the Swiss model, in which every young man age 18 goes into military for two years’ active duty. When he is released from active duty and goes into the reserves, he takes his military assault rifle (a real one, capable of both semi- and fully automatic) and ammunition home with him. Whenever he is called up for drills or for real, he is required to show up with both the rifle and ammunition. Members of crew-served weapons (machine guns, mortars, etc.) also have to keep the man-carried parts of the weapons at home.
The Swiss still have respect for each other, and don’t have a crying need to control others in their society.