Wait a sec fellas.
He said 50 amp SUBPANEL, not 50 amp circuit. So if the garage has a couple of 15 amp lighting circuits a 20 amp 110 outlet circuit we already at the limit of the panel and wire going from the house to the garage.
What I think everyone meant is that a 50 amp 220 *dedicated* circuit (ONE 2-pole breaker in the box is marked "50", others are "15", etc., all-togther not exceeding the whole panel's capacity), then you are good to go.
As said, a dedicated 50 amp 220 circuit will power about any welder or plasma cutter a hobbyist can plug into it, but just double-checking that you have that.
As stated, you do need to look at a welder's input amps, not the output (which is always greater). Most of the user's manuals are online and the first couple of pages will give you the wiring requirements.
R-Bo (not an electrician and I didn't even sleep in a Holiday Inn Express last night, but double check this one, I think there is some confusion and we don't want a bolter's stuff burned down)