The person most frequently credited as the originator of the phrase is playwright Clare Boothe Luce. Also credited have been playwright Noel Coward, writer Oscar Wilde, journalist Walter Winchell and the late Washington Post writer Bill Gold. The original idea is probably an ancient proverb.
Appearing cynical on the surface, a closer examination of human nature reveals the False Personality to be incredibly vengeful and petty due to its hubris.
Plato has Socrates say, "An unexamined life is not worth living." The reason no good deed goes unpunished is because most people are living lives not worth living. If you feel a sting that probably means you.