> Another country which is able to hire the best from around the world will take our place.

But not all of the H1B folks are the best from around the world; they're simply significantly cheaper, and the reality of the H1B Visa also means that they're very unlikely to quit their jobs for greener pastures.

Yea that's exactly the point I'm making. If they came and paid a high visa payment, then they would not be significantly cheaper.

This would crush fields that can't afford to pay so much, but also have a very small global pool of highly skilled talent to pull from. Certain areas of academia for example (specializations that are very close to tech, such that anyone in that specialization could get a much higher paying job in tech but not vice versa).

Though, it isn't like the US actually wants to fix its immigration system. It benefits from the resulting submissive population and takes great sadistic joy in having a group of people they can harass and blame for everything, while those outsiders pay into the system, often arriving in the US through an educational visa, thus helping to prop up universities.

The H1B system has been a wreck for decades, the lottery system encourages abuse and doesn't make any sense if your goal is for immigration to be for skilled people (compared to most other places, which just directly look at your skills compared to what they need). Politicians talk a lot about how if elected, they will fix it, only to never actually do so.

This will incentivize foreign intelligence services to fund their own market of conveniently cash flush moles.

Ah yes, any foreigner must be a secret agent

I'm beginning to see the tech industry as 1 part golden goose 10 parts shit to prop up an ailing stock market (aka boomer retirement funds). Theres going to be a weird deflationary/inflationary reckoning (depending on the market).

"On one hand, H1B holders can be paid below market rates because it is very hard for them to switch jobs. For this reason, they create resentment from American citizens."

This directly lowers the wage an American can earn. This is one way corporations pin the market to a wage they want rather than what is reasonable and fair for the worker. "That's the market rate" Is some serious bullshit, they manipulate it at every turn.

This is the bigest misconception that H-1B is meant to hire the best. It is NOT. Foreign H-1Bs are typically rank-and-file employees to take mid-level jobs en masses. The best and brightest cannot go through H-1B due to oversubscription and resulting lottery. Thus the best and brightest are using different visa types like O-1 and self-apply for green cards using EB1/EB2 National Interest Waivers.