Right now the DOL is supposed to set the minimum salary for H1B, judging by your dissatisfaction it's not doing this job. Why do you think it's suddenly going to be better if you set some arbitrary figure for salary? Not to mention the H1B is not exclusively for programmers, is it going to be $120K for everybody, including nurses and models?
> If bringing the best sw engineers to America is truly a priority, and I would say that it should be, then that problem should be solved as it has been for scholars.
The problem with programmers is that there is no objective criteria for what is "best". There is hardly one for scholars. Scholar criteria are objective but they do not select the best, it's assumed that you would not want to bring sub-par scholars yourself. It's same with other skilled professions - you can only verify they have skills objectively, it's impossible to verify they are the best. So I am not making argument that H1B is bringing only the best and nobody else.
However I don't see a practical way to bring the best without getting also a bunch of fake resume "consultants". Personally I don't care much - "consultants" cannot do my job so they are not competing with me. I am just a bit annoyed with the people who barely can open a text editor and copy/paste code calling themselves "sw engineers".