The Ramones are the better, more influential band and they basically created what we now know as punk rock in 1976. They are the Judas Priest equivalent of punk, with maybe The Stooges acting as Black Sabbath. Their 1976 debut pretty much laid the framework for all punk and really molded the genre into its own style, much the way Priest did by doing away with a lot of the blues influences of early heavy metal.
However, Misfits are the bearers of the best punk album of all time, as well as my personal favorite: Walk Among Us.
Different styles of punk really, but both influenced countless bands across multiple genres, and along with Minor Threat, pretty much sum up American punk rock.