I was spanked as a child - I usually deserved it. My older sisters were also spanked. We were never daemon children, because we knew that if we started fighting then we'd get a smack from mum or dad.
I have 5 little cousins at the moment, all under aged 7. None of them have ever been spanked, and they are all the most pretentious, elf-entitled spoiled little brats I've ever seen. They bully each other, and when given a "stern talking to" tell their parents to fuck off (from a 4 year old!) and when sent to the "naughty step" they just wander off and get their DS and start playing. Then they get another "stern talking to" and maybe sent to bed.
The parents seem to think it's abhorrent to spank a child, and equate it to kicking the living hell out of someone (like many on this thread do). Yet they have such little control over their children, as the kids have learned that if they push the boundaries the worst that will happen is they'll get an early night and can try again the next day.
I'm going to spank my kids, but only as and when they deserve it. I do not condone child abuse - I doubt anyone here does - but sometimes the tactics of the current "be their best friend approach" just fail miserably, and the child needs to learn to *not* attack the dog with a knife, or to push a sibling down the stairs, or to run around the house kicking holes in the walls.
They used to be great kids when there were only 1 or 2 in each family (the 5 are split across 2 couples), but when they all get together they wind each other up and cause havoc, and know their parents just won't do anything about it (case-in-point, when my step-dad - their grandpa- tells them not to do something in a stern voice, they don't do it. But they don't listen to their own parents - I overheard one child say to a younger one "Don't listen to my daddy, he always says stupid stuff like that. He's not very clever, just do it anyway".
I feel that things like the "naughty step" and so on are decent reprimands - but there are times when the child needs a much firmer lesson. Spankings should only be administered for very bad behaviour. Mind you, I'm probably not going to be allowed kids - I am of the belief that if a kid is playing near a fire, and they go to touch it, I'll say "Don't do that, it's hot, it'll hurt" but I won't actually stop them. They'll learn soon enough haha.
Once a kid is older, like over aged 10, it's not that you don't hit a child because they'll hit you back (I'll still be under 50, and since I'll be a copper or in the army I'll be in pretty decent shape, certainly not fearing a little punk

) but rather that groundings, confiscations and "time-outs" become much more effective as the child is developing socially - they have friends, they have a greater attachment to the things they do in their free time than when they were smaller, and stopping them from going to the cinema with their friends is a greater punishment, particularly if they were looking forwards to it, when they do something really stupid or wrong.