What are the similiarities and differences between The caste System in India & the class system in the U.S.?

Answer 1

Probably the greatest similarity is that officially, neither exist. The caste system is legally not recognized -- although it continues to be practiced in many places. There is no legally defined class system in the United States.
In both countries, however, money seems to make a huge difference. In the U.S., you have "old" money (like the Rockefellers, the Gettys, the Kennedys even) which supposedly carries more weight in social circles than "new" money (like Donald Trump, Bill Gates). India has its newly wealthy (and a remarkably fast-growing upper "middle class") as well as old-monied families.
Both countries are primarily supported by the so-called middle class, because as the rich get richer, the poor get poorer and the people in between seem to pay for most of everything!

Answer 2

In India one is born into a caste system for life. In the US, ones class is largely determined by his ability to create wealth no matter what family he is born into. There is a distinction however between old and new wealth and the social etiquette's that are inherent.