I hope many managers and programmers out there don't take this the wrong way. I've been an engineer on a project that was attempting to get 100% code coverage on a piece of software I was writing. I heard constant remarks during this period that were similar to "You don't need 100% code coverage, it doesn't do anything!" These engineers who I was working with had only read articles like this and didn't stop to think about what the article was trying to say. From my experience there is no safe rule of thumb for for how many tests should be implemented for a project. There should be just enough to feel safe (as hathawsh has said). If you're recommending to engineers on your team to stop implementing tests when they say "I'm at 60% coverage and it'll take ~2 days to get to 100%" I'd really hope you take the time to understand why they want 100% coverage.
The software I was working on when my coworkers started telling me to stop writing tests was code designed to trigger alarms when patient's vital signs met certain criteria set by doctors. I am very thankful that I did hit 100% coverage because between 60% and 100% there were many small edge cases that, had they caused a death, I wouldn't have been able to sleep well. Had they said I was explicitly disallowed from working on the tests I would have come in on a weekend (or taking a PTO) and implemented them then. It's our ethical responsibility to know when and where paranoia is worth the marginal time penalty.