For me, you can joke about anything as long as it lands. I think the whole punching up or down thing is stupid as it relies on the ever shifting progressive stack and identity politics, which are, as we all know, pure evil. As long as it's funny, you can offend disabled cancer ridden minorities, as long as it's actually funny. Laughter in and of itself has value, outside of anything else. If a joke isn't funny though, it doesn't matter how inoffensive or offensive it is. That being said, what's allowed on this site, or what people who frequent this site will appreciate, let's just say, I suspect you won't win many subscribers if you're being too subversive or running up against the status quo too much.
Check out Toon Hole, they seem to walk the line fairly well.