The excerpt from "The Communist Manifesto" by Karl Marx can be summarized as follows:
"In your current society, while you may be horrified by our proposal to abolish private property, it's important to recognize that private property effectively does not exist for the majority (nine-tenths) of the population. The few who do possess it only do so because the majority does not."
This excerpt highlights Marx's argument that in the existing capitalist system, the majority of people do not have access to significant private property, while a privileged minority retains ownership. Marx is addressing the unequal distribution of wealth and property in society.