Can it be done? Yes. Safe? That all depends on how hard you like to take your corners. And really, it is very much contingent on the brand of tire you are purchasing. Example - a 275 nitto is at least an inch narrower than a BFG 275 tire, so a 275 nitto will fit much better on an 8" rim than its BFG counterpart. I have about as much bulge w/ my 255 BFG KDW tires on an 8" wheel as fluffyrunnells has w/ 275s on his wheels.
275's all around for maybe a year or so. No problems. Pretty much every mod we do runs a risk, pullies-engine wear, supercharger-detonation on hypercraptonic pistons, etc. So learn the pro's and con's and make your decision. Different tires do bulge differently too. These are fuzions. Better than stockers.
If I had the money I would buy bigger rims and run 315's.
These pics show how much of a difference brand can make.. I have 275s on the back on the first pic, and 275s on the front in the second pic. Rear brand is Sumitomo HTR ZII and I dont remember what the fronts are, I got them used off a friends car. Kumhos I think.