This seems like ManyToMany, not one to Many.  Users can have multiple tags, and a tag can be associated with more than one user?
You would only need such a superclass if you want to be able to have a relationship on your Tag to a single collection that contains every object marked with that tag.  Do you have a requirement for a tag.getOneGiantCollectionOfEveryTaggedEntity() method?
Since the marked objects don't seem to otherwise have anything in common, does such a collection really have any value in your application domain?  It could also ostensibly be quite large and not something you'd really want to work with via object relationships anyway.  From a practical standpoint, without knowing about your use case, it seems like tag.getTaggedUsers(), tag.getTaggedPosts() etc are more useful.
Sorry, guess I'm asking more questions than giving answers, but it's not clear what you want your finished object domain to look like :)
edit:
Maybe the actual answer then to the question asked is just "No, Hibernate will not map for you you a Raw Collection of types with no common ancestor that just happen to all have foreign keys to your entity."  You don't neccessarily have to impose a 'fake' superclass on your entities, but if you don't then you'll have to make a join table.
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