We need to raise their taxes to compensate for how much control they have over the system. For example, we can't just increase the minimum wage because businesses will raise prices, often beyond whatever additional spending power was given to workers.
The reason why taxing our rulers isn't palatable is because we're stupid. Until we climb over that hurdle, we shouldn't expect things to improve.
Faculty are better equipped than children to decide what's best for the children, which is why they are trusted to make those decisions every day.
How do you determine when children get to decide what's best for themselves instead of adults?