Yes, I do think it would be a good thing if every photo that was retouched or edited in some way was labeled as such.
I am fairly libertarian, so I do not believe the government should make a law, but the people making these photos should be conscious of the incredible harm their photos can do. There has been a strong and positive discussion about the effects on self esteem, or mental health that photoshopped images can have. The fact that images that have been heavily retouched are still not labeled as such by the people publishing them, just goes to show how incredibly the benefits of retouching an image to suit an agenda has become ensconced in the mass media.
Aaron Reger 