The diameter of the wheel does not have much to do with what size of tire can be mounted, it is the width that plays a bigger role. How much wider can a tire be than the wheel? Well, that depends on a number of things, such as tire diameter, type of wheels (bead locks or not), and your intended driving.
The larger the diameter of the tire is in respect to the diameter of the wheel, the larger the difference between the widths of the tire and wheel can be. For example, if you have a 31 inch tire on a 20 inch wheel, you want the width of the tire to be about the same as the wheel, probably no more than two inches maximum. On the other hand, if you have a 44 inch tire on a 15 inch wheel you should probably be able to have a difference in wheel and tire width by as much as eight inches.
With bead locks, it does not really matter so much because the tire is fixed to the wheel and you won't have to worry about the bead becoming unseated. So in short, the answer is that with bead locks you could run any size you please, provided theta the tire matches the wheel diameter.
The type of driving you do also influences your choice. If you drive mostly on the street you will want to run tires that are only a few inches wider than your wheels in order to maintain a good contact patch and even wear. Similarly, if you runs mostly sand or mud, you will want wheels that are not much narrower than your tires in order to increase flotation. In rocks or general trails you want wheels that are relatively narrow to your tires in order to maintain your tire beads and to keep the wheels tucked in and safe from the surroundings.
Now to answer you original question, I believe Interco makes the Super Swamper LTB in a 47/17-16 size, which to my knowledge is the biggest tire that can fit on a 16X8 wheel.