We're close to that already, at about 18%. [link] or google "GDP" and follow the graph shown.
Oops, meant 16%.
Not much deviation though, depends on how you squint at the numbers. Upshot is we can’t squeeze much more tax revenue out of the economy no matter what: as the number approaches 19.5%, economic activity slows/adjusts to prevent getting there.
Elsewhere someone reported a 1% increase in tax revenue translates to a ~3% decrease in GDP.