This essay delves into the unintended effects of various economic policies, including minimum wage, earned income tax credits, and social security, with a specific focus on the context of Singapore. The paper begins by highlighting the increasing income inequality and wage stagnation observed in many countries, including Singapore. It then analyzes the potential negative consequences of policies designed to combat poverty, such as the unemployment resulting from minimum wage laws, the limitations and fraud associated with tax credit policies, and the financial burdens that social security policies place on higher earners. The analysis uses economic theories and empirical evidence to evaluate the effectiveness and drawbacks of these policies. The essay concludes by emphasizing the need for policy reforms in Singapore to address wage stagnation and income inequality and suggesting a need for a better social security system to alleviate poverty.