If you go back further you will find the land belonged to Israel first.
I think that arguments based on historical right are very bad ones. Most Zionists do think along similar lines, but their arguments are based more on cultural/ideological claims and the idea that Israel was the "only" homeland for the Jews, much more so than the merits of simply having lived there at some point in history. Which, ironically, is the only thing the Palestinians have going for them.
Is it worth pointing out that if Ariel Sharon had been Russian or Pakistani, the massacres at Sabra and Shatila wouldn't have merited a footnote in his biography? King Hussein, who was considered a peacemaker in the Arab world and praised by such historians as Avi Shlaim, killed more Palestinians in a single war than Israel has in its entire history. And Vladimir Putin, after having leveled Grozny and slaughtered fifty thousand Chechens, isn't even being discussed as a monster but as a responsible statesman who diffused the tense situation over Syria. The simple fact is that any Arab leader who had Sharon's human rights record would have been given the Nobel peace prize five times over.