oh I think it's ok to punish and take priveledges away, but keep in mind, the lesson(s) learned as a result are so extremely short term as to be almost worthless..  I think that shouting/bawling them out is more effective, longer lasting...even though it may depress them for a while.  I think that hitting, spanking, is an indication of loss of control by the caring parents, and sets an unacceptable role model for behavior....and I'm sure of  that negative aspect.