What are the effects of parental corporal punishment?

No.13418676 ViewReplyOriginalReport
I was beaten as a kid but idk, I don't think it ruined me or anything.
Wikipedia (or rather whoever edited that article) seems to say it's bad though and the American Academy of Pediatrics is against it completely and Sweden banned it completely.
Could we have all been so wrong? has parenting really been this bad for so long?
What is the correct /sci/entific perspective on this?