What's more, although common bread mold isn't especially harmful, there are some dangerous molds out there which can be detrimental to your health. In fact, a few of them can produce poisonous substances known as mycotoxins, the nastiest of which (aflatoxin) can cause cancer according to the USDA. That said, contamination tends to occur farther up the chain than your kitchen, primarily appearing in grain and nut crops, so your regular household mold probably isn't aflatoxin-related.
Can't you just cut the mold off your food?
Although it might be tempting to simply tear off the moldy bits in the interest of not wasting food (or money), there's no guarantee you're actually removing the whole fungal infection by doing so. Mold's thread-like roots can reach deep into the food in question, so simply removing the obviously nasty parts won't do. Better to err on the side of cutting off too much than too little -- or better yet, just toss the whole thing out. To clear things up, the USDA has a food-handling chart outlining which foods can safely be pruned, and which should just be discarded.