The H1-B program prevents the tech industry from developing its own domestic supply of skilled engineers by shutting out domestic applicants for entry level positions. Remove H1-B's from the equation and the labor market will move back to equilibrium.

I take it you want to hire Andrew Ng for $10 an hour. There's a shortage of those people yes, but that's by design.

Perhaps that view says more about the hiring process than it does about the available labor pool.

What are you paying and do you post that information on your job description? I am a software engineer with 5 years of experience in Chicago IL and am open to new opportunities. What would you offer me?

At what cost? $50/hr?

I am on H1B (bay area last 4 years, Atlanta 6 years) and my total compensation is significantly higher than that.