The Right Way to Spank a Child?

There are 3 excuses for spanking that always get brought up:  the Bible teaches spanking (it doesn't), "I was spanked and I turned out fine" (if you think it is a good thing to hit small children, then I question your definition of "fine") and it is only harmful if you spank in anger. 
None of those are valid.  There is no right way to hit a child.