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Dawg, you're bizarre.

Look, H1B still exists. There was a (perceived; I happen to disagree) shortage of tech workers which coincided with the top of the dot-bomb era. Many an article talked about Java guys on the coast getting 140k...

... well that was 140k for Java code to be cool and with it and ride the crest of the tech wave before it collapsed. Lotta good that did anyone. But I digress.

Anyway Congress temporarily upped the H1B quota due to the 'crisis.' The crisis is over; no need for emergency visa quotas. If anything, we have something of the opposite, a dearth of positions and too many candidates. Now H1B quotas are back to normal.

Repeat, normal. H1B isn't gone; and you can still go offshore entirely.

As for theory: the worth of a certain salary is dependent on the cost of living for that worker. Where I live, salaries aren't comparable to Bay Area, RTC, or other major metro areas; but the overall cost of living is less.

If we extrapolate to India, we see that because India is amazingly poor, a salary which is unlivable here is rich there. Now, you can say: ah, it is better to employ the guy from the poor country; I can spend less and still get work done (leaving aside any differences in worker quality, which are many). However two problems arise when you consider expanding the supply of workers to the global market and thus devaluing work.

One, this applies to everyone, programmers AND stockbrokers alike, so the net result is that we all have labor value equal to Chinese near-slave labor. I don't think American ideals flourish in those economic conditions.

Two, even if you're in the class of the people who is presently holding lots of capital and would be immune from the immediate effects, another problem arises. If labor is worth virtually nothing, then there is no market for goods, because nobody can afford them.

Capital is worthless unless it MOVES and does work, producing wealth.