Cream the margarine and sugar with a hand mixer until fluffy. Add the molasses and vanilla and incorporate. Add the dry ingredients to this mixture and mix until a dough forms. Fold the chocolate chips into the dough.
Roll dough into 1 inch balls or drop by tablespoons onto ungreased cookie sheets. Bake for 8 to 10 minutes until mildly browned. Allow the cookies to cool on the baking sheets for 5 minutes. Then transfer to cooling racks, cool and enjoy!