The Gaza Strip was a protectorate of Egypt from 1948 until 1967, when Israel acquired it as one of the spoils of the Six-Day War (a war launched in response to Egypt's call "for a unified Arab action against Israel").
The Gazans, like their fellow Palestinians in the West Bank, have not demonstrated their ability to self-govern - by a long shot - or to be capable of living peacefully side-by-side with Israel.
Having Gaza annexed by Egypt would return responsibility for maintaining peace to the major country that created this problem in the first place. This would also enable Israel to stop having to provide electricity and fuel to an entity that returns the favor by launching a continual barrage of rockets into Israeli border towns.
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