I believe in it, but there is a big difference between "spanking" a child and "tapping" them on the backside for example. And no I don't believe in spanking or using any kind of real force.
The last time I "tapped" them was likely when they were four? Five? Something like that. Once they're old enough you can explain issues to them or why you don't believe they should be trying to stick sticky cream buns in the VCR!