The core ideas are mostly correct. Lack of payment of taxes, the colonists sparking the French and Indian war etc. Of course it's all simplified and exaggerated in the usual cracked style. The one thing they are entirely wrong about is that the British government weren't aware that the Americans weren't happy. Oh they were aware but they were intent on imposing their power and proving their legitimacy and somewhat underestimated the amount of support the Patriots commanded.
There's some problems here more than just the usual Cracked exaggeration.
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Cross-posted to /r/badhistory
The one major problem with this video (other than its exaggerated to the 10th degree, and maybe goes one step too far in saying that the British were justified) is that it completely ignores the role of the Proclamation line of 1763 in the later American Revolution. Following the Seven Years War, the British gained a vast swath of French territory. France, unlike the British colonists, had negotiated trade agreements with the Indians and essentially become both their trading partners and their benefactors. The French style of administration allowed the Indians to keep their land and trade furs for modern iron goods. The British, and especially the colonials, were more interested in territorial expansion. This culminated in Pontiac's War, where the natives attempted to eject the British from the Appalachian/Ohio region. However, the British won the war and maintained their territorial control over the "indian lands". But in deference to both Pontiac's cause, the standing relationship between the French and Indians, and the near constant warfare which had been provoked by contact between the natives and colonials, the British established the Proclamation line. Essentially, the British declared that colonial settlers had full possession of all land to the east of the Appalachian mountains. Everything to the west was Indian country, and no whites were allowed to settle that land. To keep both sides separate, British regulars were established in a series of forts along the proclamation line. However, the colonials were far more interested in violating the Proclamation Line, and it was quickly realized that the Line was more intended to keep whites out rather than Indians in. Not only that, but the Proclamation really ruined a booming speculation business involving many wealthy colonial landowners. Many landowners had bought up property in the west with the intention of reselling that land to settlers as they move across the line. However, the Proclamation of 1763, this speculation was essentially shut down, with many of these wealthy landowners left "holding the bag" of now unsettleable land. This whole event is a critical first step for the Revolution. Many of the troops sent to Boston in the very first years of the unrest of the 1770s would come from the Proclamation line. Their pay and upkeep was a central issue which pushed the British Parliament towards taxation. And the line represented a major initial break between British policy and Colonial aspirations. It was a critical break between the two parties.
There's a pretty significant lack of discussion about the idea of taxation without representation here, which is the manifestation of the "oppression" that the video claims the colonists didn't actually endure. Prior to the 1765 Stamp Act, colonists were under the impression that they had all the rights of any normal British citizen, which included the exclusive right of the colonial government to tax themselves, or to at least have a representative in Parliament to represent their interests. The stamp tax, essentially a tax on all paper goods in the colony (newspapers, playing cards, currency, etc.), was levied by the British government without any consent of the colonists who saw this as a fundamental breach of their natural rights as British subjects. As a result, a great push and pull ensued with the colonists boycotting British goods and Parliament and the monarchy levying more and more invasive taxes. This scenario ultimately reached a breaking point when the British sent troops to America in order to enforce these taxes and events like the Boston Massacre etc. occurred, which took tensions to a whole new level and eventually to the Revolution.
I am surprised that no one has mentioned quartering troops in private homes. This is the reason for the 3rd amendment. Nothing says oppression like armed men taking over your home.
In all, the video is just another crappy re-write of history. It misses the larger political and social issues going on at the time. Facts without context aren't all that useful.
How widely accepted are the ideas that the colonists really did not start off wanting independence from Britain, and that the Revolution was not inevitable? I seem to recall hearing a lecture series in which the speaker put forth the argument that colonists really just wanted the full rights of British subjects, which they had somehow been deprived of through excessive taxation and oppressive colonial administration. It followed that, even after violence had begun, they were fighting to get their rights under the Crown, and not to separate from the Crown until it became obvious to them that they were not ever going to have the rights they were fighting for.