@hawkeye10,
Of course there is such a thing as bad food - chocolate bars, coke, and potato chips come to mind, not to mention deep fried chicken wings, and other fried bar food. Tell me one good thing you get from those other than feeling full and satisfying a craving. Nutrition-wise, they're all zero.
What I think you might mean is that everything's okay in moderation. With that, I would agree.
Edit: And I sort of agree with you that this sort of thing shouldn't be regulated by governments, but I've heard/read over the years how out of control some Americans (just to pick the country I know about) are with these foods, plus an excess of salt and sugar. Well, isn't this the whole thing behind Jamie Oliver's food revolution in Britain?
If people's eating habits are going to negatively affect health care, child care, work performance, etc., then maybe it should be dealt with, one way or another.