If we weren't around, an American could demand a (significantly) higher wage. If the developer wages were higher an American programer would consider not becoming a manager (why code away for peanuts when you can boss others for much more?).
That's in the short term. In the long term more Americans would do CS, and if the supply is tight enough, Apple and the others would open schools to train teenagers to code.
Not saying that the current system isn't better. But the basic forces are what they are.
Btw, you are underpaid and overworked. The game-room is gaming you to stay at work longer hours.