The Communist Manifesto is a very short, somewhat satirical pamphlet meant for Agitation, not Education. Should you read it? Sure, it'll take you like 10 minutes! But you're probably familiar with the ideas it introduces: that the working class should band together, rise up and seize control of the farms and factories, the tools and machines, by any means necessary. The Manifesto doesn't go into much more detail than that, since it was intended as a Mass propaganda tool.

Unfortunately, in order to really understand the nitty-gritty of Marxism you must read Capital, or a later work that heavily references it (such as State and Revolution, an easier read).