It's more than economically dubious, it's outright false. If everyone else is making less than you, then whenever you buy anything whose cost is mostly personal service, it'll be cheap in real terms (i.e. the amount of time you have to work to buy one hour of someone else's labour).
Conversely, if other people earn more money than you, you're going to have to work longer to pay for someone else's time.
It strikes me that this is the difference between wealth in the past, and wealth now.
A medieval king was vastly wealthier than me in his ability to command other people's time. But I am vastly more wealthy than him in my ability to command nature, which means I have access to much better medical care, communications, and entertainment opportunities than he had.
Conversely, if other people earn more money than you, you're going to have to work longer to pay for someone else's time.