I went through the entire comment thread and feel like you guys are missing a lot of the H1B benefits by focusing just on tech and the effect of the Indian consultancies. Most PhDs, specially in STEM, math, stats, econ, etc. are not American. And almost all of them end up with a H1B visa at some point if they remain in the US. It might be lottery based if you go to work at any firm, or quota-free if it is in academia…
http://www.bbc.co.uk/news/world-us-canada-39632182
But H1B abuse needs to stop. It would even help you if there was a proper alternative.