Most health-conscious people have grown up with the idea that salt is only bad
for those who are "salt-sensitive." What is meant by this is that there is
research that shows that the blood pressure in a certain minority of people will
increase with salt.
However, what has emerged in the last ten years is a much more ugly picture of
salt. Salt is not just a problem for the "sensitive" but for the
population at large and, furthermore, it does not just elevate blood pressure
but results in increased risk for a host of medical conditions.
NOTE: Read my link on How to Defeat Inflammation for more details
Consider what that all that extra salt in your diet, primarily from added salt
and processed foods, will do to you according to the latest research:
1) Adiponectin. Many people have heard of the inflammatory markers
TNF-alpha and C-Reactive protein. However, one lesser known
inflammation-controlling protein is Adiponectin: the less you have, the
higher your inflammation. Adiponectin can be whacked by being overweight
and - you guessed it! - by salt intake.  Adiponectin levels likely play
a role "in type 2 diabetes, obesity, atherosclerosis, non-alcoholic fatty liver
disease (NAFLD) and an independent risk factor for metabolic syndrome". 
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Perhaps more scary is adiponectin's correlation to stomach (gastric), prostate,
and colon cancers as well as leukemia. In women, it has also been tied to
endometrial and breast cancers 
What makes adiponectin so toxic and an apparent precursor to so many deadly
conditions? The likely root cause is its role in increasing insulin
resistance, a key factor in type II diabetes and Metabolic Syndrome.
2. Stomach, Colon, Testicular and Bladder Cancer. Higher salt intakes are now
correlated with all four of these nasty cancers.  This likely
also explains the previously mysterious link between GI cancers and processed
meats, which are high in salt. 
3. Arterial Stiffness. The last thing you want are hardened arteries, something
that the medical community terms "arterial stiffness." Hardened arteries
increase your risk of cardiovascular disease, death and isn't going to help your
erections any either. See my link on Arterial Stiffness for more details.
4. Stroke and Cardiovascular Disease. A large, recent meta-analysis found
that salt significantly increased the risk for both stroke and cardiovascular
disease.  The authors pointed out that the risk was likely actually
underestimated by the their study results as well.
Journal of Hypertension, Jun 2010, 28:36, "Salt Intake and Inflammation in
Essential Hypertension: 1B.05"
3) European Journal of Cancer Prevention, Mar 2011, 20(2):132-139, "Salt,
processed meat and the risk of cancer"
4) British Journal of Cancer, 2004, 90:128–134, "Salt and salted food intake and
subsequent risk of gastric cancer among middle-aged Japanese men and women"
5) British Journal of Cancer, 2006, "Adiponectin and cancer: a systematic review"
6) BMJ, 2009; 339:b4567, "Salt intake, stroke, and cardiovascular disease:
meta-analysis of prospective studies"