What are the differences between imovie on ipad and imovie on a MacBook Air?

I am a YouTubeer and want to begin doing some better editing on my videos, because Windows Live Movie Maker is just not good enough I don't think. I would really like to use iMovie to edit my videos, but I am not sure if there is any major differences on iMovie on an iPad and iMovie on a Mac. Please help! I would prefer to get an ipad because it is much cheaper, but if the iMovie on an iPad is not as good, I will consider getting a Mac.

I don't know the specifics of iMovie as I don't use it but, almost by definition, an application for a Mac is much more powerful and versatile than an app for an iPad.

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