Preheat oven to 375 degrees
In a medium sized bowl stir flour with baking soda, baking powder and salt. Set aside.
In large mixing bowl, with either a stand or hand mixer, beat butter with sugar, brown sugar and vanilla at medium speed until creamy and lightened in color.
Add the eggs, one at a time on medium speed until light in fluffy. About 3-4 minutes.
Gradually blend dry mixture into creamed mixture until well incorporated.
Take one big handful of the M&M's out and eat for yourself then by hand stir in the Caramel M&M's.
Drop by tablespoon onto ungreased cookie sheets.
Bake for 10 to 12 minutes or until golden brown.
Transfer to a wire rack to cool. The caramel is really hot right out of the oven so be careful!