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In a large bowl, cream together butter, sugar and egg. Add vanilla.
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In a separate bowl, sift together flour, baking powder and salt. Add dry mixture to other bowl and mix well.
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Chill in the fridge for 30 minutes.
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Preheat oven to 375 Degrees F.
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On a lightly floured surface, roll out dough to 1/8 " thickness. Cut into various shapes with cookie cutters. Arrange on cookie sheet. (They spread a bit so leave some room)
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Decorate with sprinkles, sugar, chocolate chips, etc. prior to baking.
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Bake 5-6 minutes. Remove them from the oven just BEFORE they start to turn brown. They will cook a little bit more on the pan while waiting to cool.
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When cooled a bit, remove to a wire rack for complete cooling.