He took less than the max available. He's not exactly on food stamps, but I think it's an important part of the current story.
Back in 2010, James, Bosh, and Wade each took slightly less than the max so that Riley would have just enough remaining cap space to sign Mike Miller. Essentially, those three players were paying Miller's salary while the team had to pay the associated luxury tax. It proved to be a good investment as Miller played a key role in the 2013 Finals.
After the 2013 season, Miami used the amnesty provision to waive Miller. The Big 3 were still paying his salary, but ownership decided to save millions in luxury tax. After waiving Miller, Miami decided not use to use their MLE, and their only offseason additions were the minimum salary signings of Beasley and Oden. They also used a future first round pick to salary dump Joel Anthony at the trade deadline.
Then the 2013 Finals happened and the thin supporting cast was exposed. James has good reason to question ownership's commitment as he considers where to continue his career.