In terms of international law, the 78% of Mandatory Palestine which is now the State of Israel was legally acquired. Israel accepted UNGA Resolution 181 and its border defense against Arab aggression to counter international laws that they did not like. As a result, the acquisition in the 1947-1949 of war was not an illegal act since self-defense is not a criminal act unless it is grossly disproportionate to the attack and the war was a relatively balanced affair as well as being resolved at the moment that each Arab state was willing to engage in an armistice. Just to clarify, this means that the 1949 borders of Israel belong to Israel.
As for the remaining Palestinian areas that were acquired in 1967, the situation becomes murkier, but as concerns the West Bank, Jordan attacked Israel first and Israel retaliated. Again the self-defense doctrine comes to the fore. Israel would have the rights to those territories acquired in self-defense. However, Israel was willing to concede some of those rights pursuant to a final, lasting peace with its neighbors, which is all that UN Resolution 242 discusses. Those states that have made peace with Israel since 1967 (Egypt and Jordan) have seen the return of territory (in Egypt's case) or the cession of the rights to occupied territory with tertiary partners (Jordan to the Palestinian Authority).
It should also be noted that while 720,000 Palestinians fled the State of Israel in 1947-1949, 850,000 Jews fled from Arab States from 1949-1955. More Jews fled their homes than Arabs fled theirs.
Israel, in the area formerly known as Palestine until 1948.
Currently its the area known as Israel.
Israel. Back then it was Palestine.
Israel didn't exist in 1920. That area was called Palestine and was ruled by the British.
In the area now known as Israel/Palestine.
In the area currently called Israel/Palestine.
It comes from the area of Palestine/Israel.
In May of 1947 Israel gained independence from the British to be able to be a state in its own right. The British had divided the area into sections and one section was Palestine which held the Gaza Strip. This created conflict within Israel and Palestine because of the building by Israel on the Goland Heights along the Gaza Strip since Palestine claimed the area as part of their land. Other nations around Israel also were not happy to have the Jewish state as their neighbor. All of this created conflict and Israel having checkpoints in/out of Palestine as well as missiles going both ways by both groups.
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Palestine which is known today as the State of Israel.
The US will not become allies with Palestine because the US is a very strong ally of Israel. Israel and Palestine have been constantly feuding over land in the area and many lives have been lost as a result. This is why Palestine is also not a member of the United Nations. Even though they have applied for membership more than once, they have always been vetoed by the US because the US and Israel are close allies. This is also why Iran and the US have bad relations, as Iran and Israel are enemies and are on the brink of nuclear war. Many Western nations side with Israel on matters as well, which is why almost all of Western Europe does not recognize Palestine as a country (as neither does the US).
It depends on your terms. If you are referring to the West Bank and the Gaza Strip cumulatively as Palestine and the 1949 borders of the State of Israel as Israel, then Israel is 3x larger than Palestine. If you are referring to the British Mandate of Palestine, then the State of Israel according to 1949 borders is smaller than Palestine. If you are comparing the current areas under Israeli control to the area of Mandatory Palestine, they are roughly equal. (The gain in the Golan Heights is more-or-less offset by the loss of the Gaza Strip and the West Bank Zone A regions.)