I am from EU, however this situation around the H-1B visa is why I am not even remotely interested in most of the job offers from the US that I am getting.
I have been in a similar situation in Europe before my country entered the EU and it is a lot of "fun" when you have to go every year to the immigration office, apply for a work permit renewal and pray that some clerk didn't get off the bed with the wrong foot and won't deny your application because of some bizarre reason - forcing you to lose the job and to leave the country, potentially incurring catastrophic financial losses (relocating abroad/overseas is one heck expensive, especially on a short notice!). On top of that, there is the inevitable "second class" treatment of the foreign employees, because the company knows that if the guy decides to leave, his or her permit is cancelled and they would have to leave the country on a short notice. The alternative is to have their new employer re-apply for the visa/permit again, but that must be done while the applicant lives outside of the country (yay, Switzerland ...), waiting another 6+ months for the paperwork to go through, with no guarantee of success ...
Sorry, but this is not how you treat skilled workers that you are ostensibly so interested in.
The US is doing itself a lot of disservice with this, because apart from the horrid H-1B regime, there is little else available for foreign workers (good luck trying to get the "green card" ...). I am sure there are many companies that use the visa responsibly and treat their foreign employees decently, but it is still a pretty big sword hanging over one's head.
I am certainly not expecting any entitlement to have a job in the US as a foreigner, but right now if someone wanted to hire me, they would have to offer a very sweet deal for it to be worth the gamble with the visas for me.