Many people would say that they like to live their lives by the Golden Rule, that is, "Do unto others as you would do to yourself". Now on the surface it looks like a pretty good rule to live your life by but lets look at this from a couple perspectives. First, things are not as simple as they appear to be. For example, when we lock up a criminal, we are not saying that we should also be locked up. That would be absurd. Circumstance plays a huge role when using the golden rule. But every circumstance is, in a sense, unique. So anything we did could be justified on the grounds that we would agree to be treated in the same way in EXACTLY the same circumstance. But then the universal rule becomes empty because there is never two identical situations. Some might argue that there is a middle path in all of this. This involves the idea of relevant similarity. We should do as we would be done by any situation which, though not exactly the same, is similar in morally relevant ways. This is the only path one is to take when using the golden rule. The only problem is that it is not so simple now. For identifying relevant similarities is no easy task, and it is not just those looking for excuses for wrongdoing who might claim a crucial relevant difference. So maybe the golden rule might work for simple black and white things but things are never that way are they? Which is why i wonder why so many people say they like to live their lives by this rule when, if you think about it, just turns to be fizz in the end.
No, we are saying that we would like to be punished fairly if we have done something wrong. The 'golden rule' (AKA reciprocity) is just a part of Kant's Categorical Imperative, which is a pretty good way to look at what's ethical. It's not about figuring out what to do in specific situations. It's about dictating your general conduct (i.e. being kind, generous, forgiving, etc.). When looking at morally questionable, imagining what you would wish someone else's behavior to be is still an absolutely logical thing. I see no real reason to "dismantle the golden rule".
I'd like to point out that just because most people(myself included) would not like to be punished for wrongdoing, while our society does quite a lot of punishing, does not suggest there is something wrong with the golden rule. All societies to an extent live by the golden rule, it's why you don't have rampant murdering and theft. Imagine how many people could get away with crimes that they have no desire to commit.