To be honest they're not at the same level, at least in terms of casualties inflicted to the enemy's population.
Israel is killing much more than its counterpart...
Umm yes... this is the goal in war to kill them before they kill you. Unless you somehow envision WWII fighters sitting down and deciding that each side will lose 50 people on this particular day of fighting cause it's only fair.

"Being militarily weak does not make the Palestinians right."
But Palestinians are still killing people.
Yes, of course, but Israeli counterattacks tend to do much more damage(on purpose), and that sucks...
Such discussion is counterproductive. The fact is, more people are murdered in the US in a month than than have died in the current Israeli offensive. If this violence is to stop, both sides need to stop with the vengeance and the pride.
We do now it's not going to stop, at least not now. It'd make much more sense to prevent Israel from exaggerating with its attacks. Obviously, both sides should stop killing people...but it's much more doable for the UN or another important authority to stop or relent Israel's exaggerate counterattacks.
Exaggerated counterattacks? You mean to say that “one of the most powerful armies in the world” has been bombing Gaza for days, deploying massive air power, dropping hundreds of bombs, and ultimately killing a grand total of 50 civilians or so in the “most crowded place on earth?”
There are two options here: A) The Israeli army is not targeting civilians, or B) Israeli pilots suck. We tend to go with option A.
Israel goes to incredible lengths to avoid civilian casualties, by deploying precise ammunition and specialized techniques. In fact, nobody in the world tries to do this harder than Israel. Even endangering the lives of her own soldiers.
The problem is both fight for their right to exist. I believe Israel has a firm right to exist, but that very existence brews thousands of years of armed conflict. What I found interesting is how Egypt is taking Israel's side. If the other Muslim countries did the same thing that Egypt did with Israel (acknowledge their right to exist), I think middle-east conflict would simmer down.
See this is where most people make the mistake. The people fighting Israel aren't fighting to exist. They are fighting to annihilate and they aren't ashamed of flaunting it. The fact that most the world chooses to ignore it is simply disturbing. Some of the people supporting the people fighting Israel are fighting for the right to exist because they forgot what they started fighting for (annihilation). Or they simply gave up on the prospect of wiping Israel off the map for the time being.
The million dollar question is...what should Israel do? They did try unsuccessfully for another cease fire agreement and it seems like Hamas just keeps firing rockets into Israel. They are damned if they do and damned if they don't. Take action, take inaction, try and negotiate....seems like these are all non starters.
You have to remember that Israel are responsible for Hamas being in control in the first place. They had a much better chance with the PLO who are much more moderate and Who would have stomped on Hamas from a great height if they were in charge. Rocket attacks from Hamas would have been a challenge to their authority and if Israel had understood that they might have actually been able to broker a peace deal.
Instead they spent years and years trying to drive the PLO from power by hamstringing them only to have Hamas win the elections because the PLO were seen as ineffectual.

You are not serious! Hamas is on the top of the list of people Israel doesn't want anywhere near them. How could you predict that the ousting of the PLO would cause the Palestinian people, years down the line, to elect a terrorist organization into power? the Hamas rise to power? and thinking the PLO would have stopped Hamas? The PLO WAS in power. And they refused to stop the Hamas what makes you think they would act any differently now?