And who determines what is true? Do I get to censor Obama when he claimed 'if you like your healthcare, you can keep it' (rated 'lie of the year' by politifact btw)?

When you start down this path, you will quickly find yourself amongst a nest of vipers.

You're comparing falsehoods with hate and racism--I don't think that's a fair comparison. YouTube has always had rules around hate speech, and that generally has not been controversial.