It's not that simple. Higher paid employees who received raises organically or by asking (based off of this article) are less likely to get cut compared to employees who threaten with separate offers.
If a valued employee came to me showing that he or she had received a large raise from another company and they really don't want to go but don't see how they can turn down the money, rather than resenting them I'd wonder (1) why were we underpaying a great employee at all? (2) why did we create a culture where they felt like they couldn't discuss this without another offer in hand?