It is impossible to say one form of music is 'better' than another; a given individual may like one better than the other, but that is strictly a matter of personal taste. 
There are many similarities between the two. They both emerged as a reaction to the social, cultural and political milieau of their times. They were also a reaction to the prevalent musical styles dominating the music scenes of their times. Punk as a reaction to tired and boring rock music , Rap to Disco and the domination of Black music by white business. 
Both styles also possess a similar exuberance and a desire to shock and scandalise. They both seek to empower youth and to challenge the status quo. 

It's not about which one is more creative or whether or not either has soul because both are very creative in their own sense and both can have deep meanings that can reach anyone's soul. It's often said that "anyone can play guitar" or "rappers are talentless". In fact a lot of 70s punk bands literally couldn't play, yet their music stood for something beyond that. And although there are a lot of talentless artists in both genres, there are also lots of incredibly talented ones. So, as for all that above, i think it depends on who the individual listen to and like more. 

It also really depends on what you class as Rap and what you class as punk. Mainstream Hip-Pop (the likes of Albert Mangwair-R.I.P) and "Post-Punk" are not at all innovative and simply follow the same formula for commercial success. However those out for something other than commercial success are generally better in both genres, in fact the lines between these are often blurred, such as in Rage against the machine.

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