For the wax ring to seal properly, a toilet flange should be flush on top of (and bolted to) the finished floor with only the thickness of the flange above finished floor level.
The toilet should be leveled (there are beveled plastic shims made for the purpose) and bolted to the flange.
If your flange is too high, you really should replumb it.
What is it made of? Metal? Black plastic ABS? White plastic PVC?
Is the bathroom over a basement or crawlsapce, or on a slab?
Give us more information, and we will try to help you solve the problem.