Each time a developer works for the US from abroad, the US economy loses up to 50% o salaries in taxes for gov funding, and up to 80% of the reminder in spending within the economy.
An argentine developer making 150k from the US pays 0 taxes and spends 80%+ in argentina. If he moves to the US he pays 60k in taxes and spends 80%+ in the US.
US is shooting itself in the foot so hard. The solution is the easiest - remove H1b caps.