One of the problems is that even if we do read those labels, not everything is stated on them. (for instance if for some reason you want to avoid genetically modified foods, there is no way for you to know which food product contains them or not).
Many times innocent appearing words such as-natural flavorings or fragrance, hide a host of chemicals we haven't even heard about.
Not to speak of misleading information such as natural, organic, green, not tested on animals-which give the impression of a safe and environmental friendly product when it is not.