That seems a rather blanket statement, sorta like "every immigrant from India is a math genius"
My daughter in Manhattan makes six figures (barely), which, after federal, state and city taxes barely covers child care for her two sons. Her husband’s salary covers mortgage payments, food, utilities, clothing, etc. and they sure as never splurge on luxury anything. They don’t have a fancy wide flatscreen TV because they don’t have ANY TV. The couple of fancy trips, like, for example, to Hawai’i for our 40th anniversary were paid by her sister in Germany, who makes seven figures. She paid for our trips, too, by the way. She is frugal, but also generous with her money, puts a lot of it away for her children, and even some for her sister’s kids, since they don’t have a lot left over. But they definitely don’t live beyond their means, and don’t have any frivolous debts, or really any debts beyond their mortgage. In fact, of the people in our circle of friends, of those in the six figure and above category, we don’t know anyone who fits the description you provide. Obviously you do, or you wouldn’t have made such a generalized statement, but it is anything BUT universal.