I know that
$$ {\tan}^2\theta = {\tan}\theta \cdot {\tan}\theta $$
So I guess the superscript on a trigonometric function is just like a normal superscript:
$$ {\tan}^x\theta = {({\tan}\theta)}^{x} $$
Then why isn't this true?
$$ {\tan}^{-1}\theta = \dfrac{1}{{\tan}\theta} $$
The reason that it isn't true is that, regrettably, the notation is not consistent. For this reason, many people avoid using $\tan^{-1}$ and use $\arctan$ instead, and so on for the other trigonometric functions. That said, $\tan^{-1}$ is logical notation, and such notation as $\tan^2$ is illogical. However, the weight of tradition and the simple convenience of the latter notation ensures its survival, and we will probably always be using it.