If it were up to me, I'd set the limit at something like $250K tied to average home prices in the area where the H1B worked. If home prices go up, so must the minimum salary.

This would push wages up rapidly for medium IT and software jobs for Americans, including American blacks, hispanics, etc. who Corporate America pretends to care about while employing 80% Indians in their tech departments.

Google, Apple, and etc. could still pick the cream of the crop from around the world, while all the banks, IT staffing companies, and others making CRUD apps on AWS would be forced to hire and train Americans at higher wages which would push more smart students into the field and out of law, finance, etc.

Companies that play games like opening offices in India or Canada or wherever would eventually be caught by the local cities and states who need that tax revenue more than ever, so I don't fear a huge loss of talent and jobs overseas.

Really, the only two viable options are either H1-B's or slavery. You can't honestly expect corporations to promote people in accordance with their skill, or increase people's wages in accordance with their skill, right? Next you're going to tell me they should compete with other employers for their employees! Hahaha just imagine that.