My sisters and I were spanked. Sometimes with a wooden spoon. I don't have a problem with it. We learned our lessons very quickly. Immediate feedback with a sting to the butt is 100 times more effective than a time out or a talking to. My mom didn't have to tell us more than once to stop doing something that was wrong.
I see a lot of kids today who outright defy their parents. The reason - no spankings.
I would never punch or BEAT my kids but you can bet your ass that I'll spank theirs.