Found this when I was looking at doing the same thing.
Basically you need to calculate the "Mechanical Disadvantage" of your simple machine.
Measure the distance from the "truck end" of the supporting bar to the "face" of the receiver. ("A" ) Measure the distance from the receiver "face" to the center of the bikes gravity. ("B")
Divide measurement B by measurement A, then take that number and multiply it by the weight of the bike.
So if A = 9" and B = 18" then B divided by A = 2. If the bike weighs 500 lbs, then the effective weight on the hitch is 1000 pounds.
Basically, the face of the receiver is your fulcrum, the portion of the load bearing bar inside the receiver is the "effort" arm, and the portion between the receiver face and the center of gravity of the bike is the "resistance" arm.
If you do these calculations for your proposed setup I think you'll find it can't (or shouldn't) be done.