Re: Thanks, Trump
That's a fairly simplistic and somewhat indoctrinated conclusion.
As another mentioned, due to the cap on the visa having been filled anyway, these 70,000 have essentially no impact on how many are ultimately in the US or not.
More importantly, your question alludes to a vacuous assessment of how many of the H-1B is most commonly used. If those jobs no longer have value to be done onshore, then the H-1B isn't going to be brought here in the first place--somewhat the point Stuart Anderson (who calls himself NFAP) is trying to make, that it was business conditions not Trump that caused the shift.
Now to those that still are coming to replace people onshore. In those abuses of the visa the rate at which the replacement worker is spending domestically is significantly less than the rate at which the replaced worker was. Additionally, the abuse has led to a laid off worker receiving unemployment in the short run and very likely spending less and paying less tax for the remainder of his/her career in many cases.
If the abusive use of the visa was stopped, we'd only need about 1/3 of the roles it was filling to remain onshore but in domestic hands to come out even or ahead.