The Hebrew word for the nation is Yisrael. יִשְׂרָאֵל (NB; Hebrew is read from right to left.)
Israel is the Anglicized version of the name. The phonetic "Yis" of Yisrael is defined by the first 2 letters; יִשְׂ We can immediately see that the Hebrew word, doesn't actually start with the first initials (Is-is) of the Egyptian goddess’ name. (aɪsɪs; Ancient Greek: Ἶσις IPA: [îː.sis]; original Egyptian pronunciation more likely "Aset" or "Iset"[1.] Wikipedia.)
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The sound "ra" in the word יִשְׂרָאֵל is depicted by a single letter; רָ. It is not a word in it's own right. The closest sounding full word is "Ra," spelled רַע. Interestingly, this word means "evil," but again has nothing to do with Yisrael, as it does not occur within it. (There is no ע in יִשְׂרָאֵל.) The only connection is the sound when pronounced aloud. The connection to the Egyptian sun-god is as arbitrary as saying that any name with "ch" in it, like Richard, has to do with "ch"eese. However, the idea that the Hebrew word רַע means evil, in the context of Egyptian and Jewish theology, is worthy of discussion on its own...
As for the last 2 letters of יִשְׂרָאֵל, they are אֵל. This word is one of God's simple names, so this part of the claim is correct, at least in part…
But this leads to my last 2 proofs against the rumour. Using a dictionary or the teaching of the Scholars, we learn that Yisrael, יִשְׂרָאֵל is a compound word. Where ישר, means "straight (to,)" and where אל, means "God." (Which is the main objective of any practicing Israelite.) By the people, this is the commonly understood definition...
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Last is the direct statement in the Torah, the very first time God uses the name, and defines it, when Yaakov (Jacob) wrestles with an angel. B'reishit (Genesis) 32:28 says; "And he said, "Your name shall no longer be called Yaakov, but Yisrael, because you have commanding power with [an angel of] God and with men, and you have prevailed." (Some translate "commanding power" as "contended.")
When I first look, these two definitions appear as if they cannot both be accurate. Yet if we ask; "what would it take to be moving, straight to God?" We might see that struggle is what begins and pervades throughout the journey. We see that Yisrael יִשְׂרָאֵל is therefore; not 3 Egyptian gods, but a state of mind and desire…
Any further proofs, comments or counter arguments are very welcome…