If I continue to live in such a frugal manner and over my lifetime save up a million dollars, why should I have to pay more on taxes and social services than someone who lived lavishly and irresponsibly on credit and debt their whole life? I feel no moral obligation to prevent people from having to face the consequences of their actions and behavior.

Well, leeches is one thing, people who just have a really rough deal and not much opportunity is a completely other... nobody likes leeches. But even if you take out the do-good part and look at the issue cynically, I'd dare claim that a society where everybody has tolerable living conditions (food, free/cheap hospital access (trying to avoid the word "healthcare" as it has a lot of negative associations for a lot of people ) is an altogether nicer place to live for everybody - has the potential to reduce crime and social unrest and the resulting fear and hate.

How to achieve that goal? Beats me. None of the currently known political systems really work