There are several reasons not to paint a plane.
-Shiny aluminum draws attention away from other things... like the bombers you're escorting.
-Cheaper and faster production, probably the most important reason.
-By the time the Americans started with the bare metal look, they had most taken control of the air. There was a much smaller risk of the planes from getting strafed while on the ground, where camo was most effective.
-Intimidation, like painting the nose of a 109 yellow. When you see a shiny spec floating above a bomber formation, you know you're going to need to watch your back.
-Reduced drag.
-Reduced weight.