Spamming a money site

I intend to have some fun experimenting on one of my money sites by spamming it to death with worthless backlinks.
My question is: when the site eventually gets hit by the big G, will it also penalize my other sites with the same hosting company?
Thanks for your help

I think so, I read somewhere that because all your domains are on the same hosting and the same IP you can jam them all up. I can't comfirm or give links to support that but it certainly makes sense.