Like a lot of trends, this one is not based on an intelligent decision. The tire can easily unseat from the rim.
The sidewall can no longer flex as expected by the suspension designer. You loose both performance and comfort. You loose comfort because the sidewall cannot cushion the bumps.
This also puts the rim in jeopardy of touching the ground as you drive over normal bumps and pot-holes. When this happens, both the tire and rim are susceptible to road damage. Blow out at 50! (mph) Not a fun thing.
The rule of thumb is: The rim width should be the same as the tread width. Each tire manufacture does have an optimal rim size for each size of tire. This includes a window of acceptable sizes both wider and narrower. Most tire manufactures have this info posted on their web site. Tire Rack
http://www.tirerack.com/index.jsp has this for the tires they sell. If you want an education on tires, Tire Rack has one of the best tire edification sections I've run across.
If you're building a trailer queen show car and this is the look you want, that would be one thing. But if you're planning on driving this car,
don't do it. You put your life at risk as well a mine.
And I don't want to die cause of some idiot's boneheaded decision.